Pradeep Metals is having a fantastic day today. The stock, which had closed yesterday at Rs.80.75, opened today higher at Rs.85.95 and soon went on to hit the 10% UC of the day at Rs..88.80, where it now remains frozen. Its 52-week high is at Rs.139.10.
The market has given the company’s earnings a big thumbs up. On a 46% (YoY) rise in total income at Rs.62 crore, the company posted a net profit of Rs.4 crore, up from Rs.1.79 crore in previous Q4.
Its almost debt free as its interest outgo for per quarter does not exceed Rs.2 crore.
The company ended FY22 with a consolidated total income of Rs.2253, up 44% and net profit was at Rs.20 crore, up from Rs.8 crore in FY21.
The company manufactures closed-die ferrous and non-ferrous forgings and fully machined components since 1984.