However, what’s more intriguing is the fact that this is only the second instance in the last 26 trading sessions that the stock saw gains.
Before Monday’s move, the stock had gained only once in the last 25 trading sessions, with the last advance being a 0.25% gain on Monday, August 4. The other sessions have seen the stock grind lower from levels of ₹415 on July 4, to ₹339 on August 8.
For the June quarter, Uniparts India reported a 5.2% growth in its revenue from last year to ₹279.2 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 25.7% on a year-on-year basis to ₹57.8 crore.
Net profit for the period increased by 38.5% from the year-ago quarter to ₹34.5 crore. Margins too, expanded from 17.3% last year to 20.7%, a growth of 340 basis points. Majority of the company’s revenue came from Americas, comprising of 52.8%, while Europe, Japan and India contributing to 24.7%, 5.6% and 14.6% of the overall topline respectively for the quarter, compared to the same quarter last year.
New Product Platform in Large Tractors, Expanding into Large Construction Equipment, Growing inorganically through strategic acquisitions and alliances and expanding into geographies like Japan, Korea and other Asia-Pacific nations are some of the growth plans laid down by the company.
Uniparts India is involved in the manufacturing of industrial machineries. It provides three-point linkages, power takeoff, hydraulic cylinders, and gripwel fastener products along with offering assembly services.
Shares of Uniparts India ended 12.4% higher on Monday at ₹381.35. The stock, despite Monday’s move, remains below its IPO price of ₹577.
