News

Aug 14, 2023

250 per cent returns: This multibagger cable manufacturing company receives order worth Rs 11.25 crore from Madhyanchal Vidyut Vitran Nigam Ltd!

V-Marc India Ltd informs that the company has received a Letter of Intent (LOI) worth Rs 11.25 crore from Madhyanchal Vidyut Vitran Nigam Limited (MVVNL). Details of LOI below: 1) Supply of AB Cable

V-Marc India Ltd informs that the company has received a Letter of Intent (LOI) worth Rs 11.25 crore from Madhyanchal Vidyut Vitran Nigam Limited (MVVNL). Details of LOI below:

1) Supply of AB Cable 3×120+1×95+1×16 sq. mm for Rs 8,57,33,960 (Rupees eight crores fifty-seven lacs thirty-three thousand nine hundred sixty only).

2) Supply of AB Cable 3×95+1×70+1×16 sq. mm for Rs 2,67,08,743 (Rupees two crores sixty-seven lacs eight thousand seven hundred forty-three only).

V-Marc India Ltd is in the business of manufacturing and sales of various kinds of wires and cables. The company has been manufacturing wires and cables under the V-MARC brand since 2006.

On Friday, shares of V-Marc India Ltd surged 1.92 per cent to Rs 101 per share with an intraday high of Rs 102.10 and an intraday low of Rs 100.

Talking about the financials, V-Marc has a market cap of Rs 230 crore. According to the half-yearly results, the net sales increased by 6.40 per cent to Rs 133 crore and net profit increased by 100 per cent to Rs 8 crore in H2FY23 compared to H2FY22. In FY23, the net sales increased by 38 per cent to Rs 247 crore and net profit increased by 100 per cent to Rs 10 crore compared to FY22.

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The shares of the company have a PE of 22x, a ROE of 15.10 per cent and a ROCE of 19.60 per cent. The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 29 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.