with a market valuation of 676 crores, Visaka Industries is a small-cap business that deals in the cement industry. Visaka Industries was established in 1981 and began production of corrugated fiber cement sheets in 1985 at Patancheru, Telangana, with an initial annual manufacturing capacity of 36,000 tonnes. In addition, Visaca produces yarns and serves as a global supplier for a range of fabric applications, including clothing, furniture, automotive materials and other technical textiles. Market watchers may be aware that the corporation has announced a stock split in the ratio of 1:5 for eligible shareholders.
The company said in a stock exchange filing that its board of directors has approved the sub-division / split of 1 (one) equity share of face value of Rs 10 (Rupees ten only). (v) Equity Shares of Rs. 2/- (Rupees Two only) each fully paid, subject to the approval of the Members of the Company, such other statutory/regulatory approvals as may be necessary. The record date for sub-division of equity shares shall be decided by the Board/Management Committee of the Board and shall be intimated to the Exchanges.”
Explaining the rationale behind the split, the board said that the stock split has been announced with a view to enhance liquidity in the capital market, broaden the shareholder base and make the shares more affordable for small investors and the expected time for completion is 3 months. confined within. from the date of approval of the members
During Q3FY23, the company registered a net profit of 3.35 crore, down 86.04% 23.99 crore was recorded in Q3FY22. The company said its revenue from operations reached 356.52 crore in the quarter ended December 2022, up 0.70% from 354.06 reported in the quarter ending December 2021. The company said its net expense stood at 350.86 Cr in Q3FY23 as compared to Rs. 324.24 crore as against the year-ago quarter. Visaka Industries’ EPS reached against 1.94 in Q3FY23 14.55 in Q3FY22.
Visaka Industries shares closed today on NSE 393 each, up 2.93% from its previous close. 381.80. The stock recorded an average NSE + BSE volume of 174,382 shares and an average delivery volume of 5,733,680 shares or 32.88%. The stock is down 27.14% in last 1 year and on YTD basis, it is down 11.61% in 2023 so far. The stock has touched a 52-week high. at 664.00 (19-Sep-2022) and 52-week low at 373.20 (13-Feb-2023).
As per Trendline data, Visaka Industries’ debt to equity (D/E) ratio is less than 0.2 to 1, which means that the company is actively financing its assets through equity and on the other hand the company has retained earnings is the price. The (P/E) ratio is 8.6, which is lower than its sector PE ratio of 39.6. Promoters’ stake in Visaka Industries rose to 48.42% in the December 2022 quarter from 48.36% in Q2FY23, while FII/FPI shareholding fell to 3.72% from 4.53%. The mutual fund’s holding was stable at 0.01% in Q3FY23, and promoters had pledged 0.96% shares in the previous quarter, taking the total promoter holding ratio to 15.21%. The stock is trading at price-to-book (P/B) ratio of 0.89, which is lower than its peers like Hill Ltd, Everest Ind, Bigblock Construction, Sahyadri Ind and Navkar Urbanstructures.
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