During Friday’s trading session, the shares of a leading manufacturer and exporter of high-quality technical adhesives, tapes and foams surged 4 percent to Rs. 101 on NSE, after the company received a purchase order from Bharat Earth Movers Limited (BEML), under the Ministry of Defence.
With a market capitalisation of Rs. 134.7 crores, the shares of Srivasavi Adhesive Tapes Limited opened in the green at Rs. 100, up by nearly 3 percent, as against its previous closing price of Rs. 97.1.
What’s the News
According to the latest regulatory filings with the NSE, Srivasavi Adhesive Tapes Limited secured an order for the supply of EPDM rubber and EPDM foam under the locomotive industry.
The order is valued at nearly Rs. 16.8 lakhs and comes from Bharat Earth Movers Limited (BEML), a Govt. of India Mini Ratna Company under the Ministry of Defence.
Previous Orders
3rd October 2024: The company received an order worth Rs. 80.7 lakhs from the Steel Authority of India Limited (SAIL) for the supply of surface protection film—Laser PE/LDPE—suitable for CO2 and fibre laser cutting.
17th October 2024: Srivasavi Adhesive secured ~Rs. 43.1 lakhs order from BEML Limited for the supply of Self-Adhesive products.
31st December 2024: The company informed receiving an order, valued at ~Rs. 55.4 lakhs, from BEML Limited, under the Ministry of Defence, for the supply of Floor Packing Rubber for BMRCL 5RSDM PROJECT-318 CARS.
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Financials
The company reported a marginal growth in the revenue from operations, experiencing a rise of nearly 0.2 percent HoH, increasing from Rs. 40.07 crores in H1 FY24 to Rs. 40.15 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 2.75 crores to Rs. 4.31 crores, representing a growth of around 56.7 percent HoH.
EBITDA for H1 FY25 increased by about 49 percent YoY to Rs. 6.4 crores, up from Rs. 4.3 crores in H1 FY24, while the EBITDA margins jumped to 15.94 percent, from 10.71 percent, over the same period.
Srivasavi Adhesive Tapes Limited has a tentative order book for H2 FY25 of Rs. 60.15 crores.
About the Company
Incorporated in 2010, Srivasavi Adhesive Tapes Limited is engaged in the manufacturing of industrial speciality adhesive tapes, foams, films, fabrics and die cuts, serving both domestic and international markets.
The company is a leading manufacturer and exporter of high-quality technical adhesives, tapes and foams. It serves various industries, including automotive, aviation, solar & wind power, electrical & electronics, railways & metro, battery & electric vehicles, white goods, powder coating, packaging and many more.
Written by Shivani Singh
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