Microcap stock trades flat despite receiving order from Airport Authority of India
Microcap stock trades flat despite receiving order from Airport Authority of India
This microcap furniture company, which is engaged in manufacturing, supplying, and trader of various types of furniture in focus after receiving an order worth Rs. 1.80 crore from the Ministry of Civil Aviation and AAI.
Price Movement
In Tuesday’s trading session, Parin Enterprises Limited stock was in focus after bagging an order from the Ministry of Civil Aviation and AAI. The stock has delivered a return of around 460 percent in the past year and outperformed Nifty in the same period. The stock closed at Rs. 380.
What happened
The company received an order worth Rs. 1.80 crore from the Ministry of Aviation and Aiport Authority of India for the supply of Airport Furniture to Goa International Airport on November 4th, 2024.
Financial Performance
Their recent FY24 results show revenue from operations increased by 0.91 percent year on year, from Rs. 81.19 crores in FY23 to Rs. 81.93 crores in FY24. Their net profit declined by 36.12 percent year on year, from Rs. 3.09 crores in FY23 to Rs. 2.27 crores in FY24.
The return on equity in FY24 stood at 4.01 percent down from 5.70 percent a year ago. The debt-to-equity ratio was 0.8 times which has slightly increased from 0.78 times in FY23. However, the return on capital employed has stood at 7.19 percent which has declined compared to 8.43 percent in FY23.
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Revenue Segment
According to the company’s annual report, they considered revenue from a single source. They derive their revenue from the sale of furniture. Government projects contributed around 43.33 percent, Institutional or private projects – 53.91 percent, Online sales – 0.42 percent and the remaining 2.32 percent from Retailers and Wholesalers as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a major share of 73.02 percent stake in Parin Enterprises. and public holdings stand at 26.98 percent.
About the company
Parin Enterprises Limited was established in 1983. It is a leading furniture manufacturer in India. They specialize in producing a wide range of furniture which includes hospital, educational, and office solutions. Parin operates on a business model that focuses on quality and customization and caters to both retail clients and institutions. They generate revenue through direct sales and contracts for large projects and they focus on innovative designs and durable products.
From leveraging its expertise in manufacturing and with a strong market presence, Parin looks to expand its offerings and improve customer satisfaction while maintaining competitive pricing.
Written by Santhosh S
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