Shares of penny inventory Gujarat Toolroom reached the two per cent higher circuit of ₹12.16 for the second consecutive session on Tuesday, November 12, following sturdy quarterly outcomes for the interval ended September 2024 (Q2FY25).
The corporate’s web revenue surged considerably to ₹26.78 crore in Q2FY25, in comparison with ₹2.4 crore in the identical quarter of the earlier 12 months, and confirmed an 18 per cent sequential progress from ₹22.73 crore within the June quarter. Whole revenue for the quarter rose 73 per cent year-on-year (YoY) to ₹271 crore, up from ₹156.7 crore within the corresponding interval final 12 months, with a marginal sequential enhance of two.5 per cent from ₹264.35 crore within the June quarter.
For the primary half of FY25 (H1FY25), web revenue noticed a dramatic rise to ₹49.13 crore, in contrast with ₹3.2 crore in the identical interval final 12 months. Whole revenue for H1FY25 jumped over 239 per cent to ₹535.4 crore from ₹157.8 crore within the prior 12 months.
Inventory Worth Development
Earlier than the current back-to-back higher circuit periods, Gujarat Toolroom’s inventory had been locked in a 2 per cent decrease circuit for 4 consecutive periods from November 5 to eight. Over the previous 12 months, the inventory has declined by greater than 70 per cent and has fallen over 65 per cent year-to-date in 2024.
The inventory at present stays over 73 per cent beneath its 52-week excessive of ₹45.97, which it reached in March 2024. Nevertheless, it has risen greater than 13 per cent from its 52-week low of ₹10.75, recorded in August 2024.
Different Current Developments
In October, Gujarat Toolroom efficiently accomplished a Certified Institutional Placement (QIP), elevating ₹50 crore at a problem value of ₹11.50 per share. This issuance attracted important participation from institutional traders reminiscent of Zeta World Funds and Eminence World Fund PCC Commerce Fund.
In an trade submitting, the corporate acknowledged, “Gujarat Toolroom is delighted to announce the profitable completion of its Certified Institutional Placement (QIP), elevating ₹50 crore by the problem and allotment of 4,34,78,260 fairness shares at a value of ₹11.50 per share, together with a premium of ₹10.50 per share. This represents a big milestone within the Firm’s ongoing progress journey.”
The submitting additional famous that Zeta World Funds (OEIC) PCC Ltd and Eminence World Fund PCC Commerce Fund 1 collectively subscribed to half of the entire allotment, every buying 2,17,39,130 fairness shares. The corporate highlighted that the strategic function of the QIP was to safe extra capital to drive long-term progress aims.
