This microcap electrical company, which is engaged in electrical and Fire-Fighting solutions company up by 1.50 percent in opening trade after receiving an order worth Rs. 1.03 crore for civil and fire-fighting work.
Price Movement
In Tuesday’s trading session, Rulka Electricals Limited stock was up in opening trade and touched a day high of Rs. 403.90 which is 1.45 percent higher than the previous close price of Rs. 398.10 per share. This stock was recently listed on the bourses. It listed at 123.40 percent higher on the Issue price of Rs. 235. From the date of listing, the stock has delivered a negative return of around 23.62 percent and underperformed nifty in the same period.
What happened
The company has received multiple orders. The segment relates to Warehousing for all the orders with 1 located in Haryana for civil work worth Rs. 0.12 crore and a Chennai location for firefighting work worth Rs. 0.91 crore. The company intends to complete these orders within this financial year.
Financial Performance
Their recent FY24 results show revenue from operations increased by 52 percent year on year, from Rs. 46.84 crores in FY23 to Rs. 70.98 crores in FY24. Their net profit increased by 119 percent year on year, from Rs. 2.79 crores in FY23 to Rs. 6.11 crores in FY24.
The return on equity in FY24 stood at 62.89 percent down from 67.39 percent a year ago. The debt to equity ratio was 0.84 times which has reduced from 0.97 times in FY23. However, the return on capital employed has stood at 50.04 percent which has reduced compared to 47.48 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 services towards Electrical works, MEP works, fire-fighting equipment, and Solar works in warehouses and retail outlets as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a major share of 69.22 percent stake in Rulka Electricals. Foreign Institutional Investors (FIIs) hold 2.35 percent, Domestic Individual Investors hold around 0.27 percent, and public holdings stand at 28.16 percent.
About the company
Rulka Electricals Ltd was established in 2013. They specialize in electrical and firefighting solutions. The company provides a range of services which includes maintenance, electrical contracting, and installation of solar systems and electrical panels.
Rulka operates on a turnkey project model that generates revenue through integrated offerings that include supply, design, installation, and commissioning. They cater services to sectors such as industrial, commercial, and telecommunications. Rulka Electricals aims to build long-term relationships with clients.
Written by Santhosh S
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