The Jun Qtr results are splendid – way better both QoQ as well as YoY . The topline has improved but with better operating margins the operating Profit has jumped up more than 20 percent YoY but same QoQ. The EPS has jumped to rs 44.7 for the qtr – tremendous if we compare it with Rs 26 of QE Jun 2022 and Rs 37.9 of QE Mar 23 . Incidentally this NP is the highest ever achieved by the company.
The half yearly figures are even better ( the Year ending is in Dec for this scrip) – the EPS is Rs 82.6 vs Rs 55.8 for the previous FY ( the full year EPS for the year gone by was Rs 123. Considering the trend the performance for this FY is anyone’s guess. A stock split is in the offing considering the small equity ( Rs 8 Cr only)and even the low floating stock ( 75 percent equity is with promoters and 12.25 percent held by DIIs / FIIs ). Talks of delisting have been doing the rounds in the past. The products manufactured by the company are niche having high entry barriers. The results have been well received as the stock price rose almost 10 percent after declaration of results ( results declared during market hours today) but finally closed 6.5 percent higher.
DISC – May be biased as I have some holding.
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