Share of this wire company zoomed by 11% on Friday; Do you know why?
Shares of DP Wires hit an intraday high of Rs 465.
During the day, the shares rose as high as Rs 465. The 52-week high and low of the stock are 465 and 192 rupees, respectively. The stock's beginning price today was Rs 409.45, an increase of 11% over its previous day's closing price. The market value of the company is Rs 603 crore. The stock price increased by twofold in a single year.
DP Wires Ltd manufactures steel wires, plastic goods, lays plastic films, acts as a commission agency, and generates power using wind turbines. The business manufactures a variety of products, including LRPC Strand Wires, Geomembrane, Plastic Film Sheet, Spring Steel Wires, Galvanized Steel Wires, HDPE Film, Pond Lining Film, PE Film, Cap Covers, and others. The business provides services to 150–200 customers in a range of end-user industries, including the automotive, infrastructure, oil and power, and construction industries. The company operates in a number of locations, including Nepal, Oman, Doha, Muscat, Uganda, Sri Lanka, Kenya, and Nigeria.
The stock has a 20.8x P/E ratio. The top line of the business increased at a CAGR of 23% during the previous three years. The firm generated Rs 671 crore in revenue during the preceding 12 months. In FY21, the firm made Rs 467 crore. Sales for the first quarter of FY23 increased 41% over the June quarter of the previous year. It made Rs 200 crores in revenue during the first quarter of FY23. The company has no debt. Receivables make up 25% of the company's total assets. The low operational and net profit margins and poor profitability ratios of this firm are disadvantages.
Additionally, the cash position appears to not be in a favourable state. In FY22, the company barely made Rs 4 crore from operating activities. The ROE and ROCE for DP cables are, respectively, 21.2% and 27.7%
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