The shares of this multibagger electric equipment manufacturer fell 4 percent in today’s trade after the company announced complete lockout at its unit located in nelamangala, Bangalore effect from October 16,2023.
At 11:45 a.m the shares of Kirloskar Electric Company were trading at Rs. 128.80 down 2.50 percent from its previous day close price and the market capitalization of the company is Rs. 856 Cr.
As per the company’s filing, the management of Kirloskar Electric Company has reported that it has declared lockout at the Company’s unit no.15 with effect from October 16, 2023 at 06:30 AM, situated at Bhudihal, Nelamangala taluk, Bengaluru Rural District and the company is monitoring the situation for ascertaining the loss caused by the lockout and will provide update on further developments in due course.
It has delivered multibagger returns of 192 percent in a year. A shareholders investment of Rs. 1 lakh would be worth Rs 2.92 lakh in a year.
The company’s revenue increased by 41.5 percent from 334.67 Cr in FY22 to 473.55 Cr in FY23, accompanied by decreasing profits of 67.39 Cr to 31.08 Cr.
The company reported a return on equity (ROE) of 33.83 percent and return on capital employed (ROCE) of 29.77 percent, this indicates that the company is making good returns on its equity and is making efficient utilisation of the company’s resources.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 49.51 percent stake, the Domestic Institutional Investors hold 1.55 percent and the Foreign Institutional Investors (FII) hold 4.16 percent.
Kirloskar Electric company is one of the leading electrical engineering companies in India, engaged in the manufacturing of AC Motors, DC Motors, Transformers, Switchgear and Electronics etc.
Written by: Bharath K.S
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