During Monday’s trading session, the shares of a company engaged in manufacturing a wide range of electric panels surged by 2.8 percent on Rs. 234.65 on BSE, after the company announced receiving orders worth a total of Rs. 5.83 crores for the supply of LT Panels.
With a market cap of Rs. 563 crores, at 12:25 p.m., the shares of Shivalic Power Control Ltd (NS:SHVC) were trading in the green at Rs. 233.45, up by around 2.3 percent, as compared to its previous closing price of Rs. 228.3.
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What’s the news:
Shivalic Power Control Limited received an order valued at a total of Rs. 5.83 crores from GMT Industries. The project is scheduled to be completed by February 2025.
According to the latest regulatory filings with the NSE, the commercial order received by Shivalic Power is for the supply of LT Panels.
Previous Orders:
On 26th October, the company secured an order for LT Panels from EPS Project Private Limited, initially valued at Rs. 2.79 crores, which was later increased by around Rs. 75 lakhs to a total of Rs. 3.54 crores.
On 28th October, Shivalic Power bagged a commercial order from Kalindi Ispat Private Limited, consisting of HT Panels worth Rs. 86 lakhs and LT Panels worth Rs. 1.31 crores. The completion date for this project is also set for February 2025.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 24.4 percent, rising from Rs. 82 crores in FY23 to Rs. 102 crores in FY24.
Likewise, during the same period, the company’s net profit increased from Rs. 7 crores to Rs. 11 crores, representing a growth of around 57.2 percent YoY.
The Board Meeting is scheduled to be held on 12th November to consider and approve the financial results of Shivalic Power Control Limited for Q2 FY25.
Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 70.86 percent stake in the company, Foreign Institutional Investors (FII) hold a 2.14 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 23.9 percent and 3.1 percent stake in Shivalic Power Control Limited, respectively.
About the company:
Incorporated in 2004, Shivalic Power Control Limited is engaged in the business of manufacturing and sales of a diversified range of electric panels such as PCC Panels, IMCC Panels, Smart Panels, MCC Panels, DG synchronisation panels, Outdoor panels, HT Panels up to 33KV, VFD Panels, Power Distribution Boards, Bus Duct and LT&HT APFC Panels.
The manufacturing facility is located at Ballabgarh, Haryana, having a production capacity of 10,000 Verticals per annum.
Written by Shivani Singh
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