One of the SME stocks engaged in electronic system design and manufacturing has skyrocketed after signing a Memorandum of Understanding (MOU) with InnoCare Optoelectronics Corporation to manufacture and service FPDs (flat panel detectors).
Stock Movement
In Wednesday’s trading session, Sahasra Electronic Solutions Limited’s share has skyrocket by 16.06 percent. The stock opened at Rs. 844.80 and is currently trading at Rs. 950, with a high of Rs. 969.95 and a low of Rs. 840. The market capitalization now stands at approximately Rs. 2,391.81 crore.
Rationale for Rise
Sahasra Electronic Solutions Limited has signed an MOU with InnoCare Optoelectronics Corporation Limited to form a strategic alliance for the manufacturing and servicing of FPDs (flat panel detectors) used in X-ray equipment.
The agreement was signed on October 24th in Taiwan between Eric Lee, InnoCare’s President, and Varun Manwani, Sahasra’s Director, with Innolux Corporation’s President James Yang present.
This Indo-Taiwanese collaboration leverages both companies’ strengths to advance technological developments in the electronics industry. The partnership aligns with government initiatives like Make in India, highlighting the growing support for private sector growth. Both organizations aim to drive innovation and excellence while targeting global and Indian markets through shared expertise and sustainable industry growth practices.
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Financial Performance
Sahasra Electronic Solutions Limited’s revenue from operations has increased by 910 percent from Rs. 10 crore in FY23 to Rs. 101 crore in FY24. The company’s net profit has increased from Rs. 2 crore in FY23 to Rs. 33 crore in FY24, which has grown by 1,550 percent.
Shareholding Pattern
Sahasra Electronic Solutions Limited has a majority stake held by the promoters at 69.90 percent, foreign institutional investors at 3.50 percent, domestic institutional investors at 8.42 percent, and the public at 18.18 percent as of October 2024.
Company Overview
Sahasra Electronic Solutions Limited was established in February 2023 and specializes in electronic system design and manufacturing. The company offers a diverse range of products, including PCB assembly, box-build solutions, and LED lighting. It serves both domestic and international markets, exporting over 80% of its products to countries like the USA and Germany.
Sahasra Electronic Solutions Limited commits to innovation and aims to meet the growing demand for electronic products. The company operates a state-of-the-art manufacturing facility in Noida and focuses on high-quality production processes. The company’s mission emphasizes cost-effective and eco-friendly technologies, ensuring customer satisfaction through reliable service.
Written By – Nikhil Naik
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