Shares of one of the leading manufacturers and suppliers of High Voltage Arresters in South Asia gained 9.5 percent to Rs 75 apiece after the company acquired stakes in BSE Limited, Jio Financial Services, and Manappuram Finance.
At 12:35 p.m., On the Stock Exchange, Elpro International Ltd shares were trading at Rs 74.98 a share, up Rs 6.26 or 9.11 percent, with a market capitalization of Rs 1,264 crores.
According to the company’s exchange filing, Elpro International Ltd has acquired Equity shares in BSE Limited, Jio Financial Services, and Manappuram Finance. The Company bought 1.07 lakh BSE shares for Rs 10 crore, 1.5 lakh Jio Financial Services shares for Rs 3.10 crore, and 3 lakh Manappuram Finance shares for Rs 4.20 crore.
Elpro International previously had shares in BSE and Jio Financial Services, but this is the company’s first investment in Manappuram Finance. The company’s holdings of BSE shares grew to 1.98 lakh from 90,730 shares, and 2.07 lakh Jio Financial service shares increased to 2.07 lakh from 57,166 shares in its portfolio.
In the previous six months, the stock has increased by 15 percent, and it has increased by 10 percent year to date.
Elpro International Ltd revenue climbed by 116 percent year on year, rising from Rs 23.74 crore in Q1FY23 to Rs 51.5 crore in Q1FY24. During the same time period, net profit increased by 19 percent, from Rs 16 crore to Rs 19 crore.
As per the latest shareholding pattern, The promoters own 74.99 percent of the company, while foreign institutional investors hold 12.42 percent and retail investors possess a 12.57 percent stake.
The company has a net profit margin of 38.85 percent and an operating margin of 57.25 percent. The company’s debt-to-equity ratio stands at 0.10.
Elpro International Limited manufactures surge arresters, constructs and develops real estate projects, and operates windmills. The business is divided into four segments: electrical equipment, real estate, investment activity, and others.
Written by Omkar Chitnis
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