Shares of this microcap company surged 18 percent in Thursday’s trading session after receiving an order from the Ministry of Defence worth approx Rs. 4.46 crores. The shares have delivered a multibagger return of 189 percent in one year to its shareholders.
With a market capitalization of Rs. 73.5 crores, the shares of Maestros Electronics & Telecommunications Systems Ltd started Thursday’s trading session on a higher note at Rs. 123 compared to its previous close of Rs. 121.05. During the trading session, the shares hit a high of Rs. 143.40, gaining around 18 percent and are currently trading at Rs. 136 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had received a Purchase Order (PO) from DG Armed Forces Medical Service (Ministry of Defence) for the delivery of 1,046 pieces of METSL 12 Channels ECG Machine worth approx Rs. 4.46 crores.
Looking at the company’s financial statements, the revenue decreased by 41 percent from Rs. 5.69 crores during the September quarter to Rs. 3.35 crores in the December quarter. On the other hand, the net profits declined by 46 percent from Rs. 35 lakhs to Rs. 19 lakhs.
Earlier, in February 2024, the company had bagged a purchase order (PO) from Assam Medical Services Corporation Limited (AMSCL). The order includes delivery of 1,072 pieces of the product named multi–par monitor (Type –B), model vital track with a warranty of 3 years and the order is worth approx Rs 6.32 crores.
Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 5.66 percent during FY 21-22 to 12.38 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 8.72 percent to 16.20 percent during the same timeframe. Furthermore, the net profit margin increased from 11.21 percent during FY21-22 to 12.11 percent during FY22-23.
According to the latest shareholding pattern, the Promoters retain a majority stake of 55.56 percent in the company, while the Public holds 44.22 percent of the shares. Notably, Foreign Institutional Investors (FIIs) possess a marginal 0.20 percent stake.
Headquartered in Maharashtra, Maestros Electronics & Telecommunications Systems was incorporated in 2010. The company is in the business of Electronics & Instrumentation (E&T) and Telemedicine which are used in financial inclusion, cardiology, gynaecology, critical care patients, and disease management in medicine.
Written By Vaibhav Patil
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