One of the micro-cap cement stocks engaged in the business of manufacturing cement fibre sheets, fibre cement boards and panels, solar panels, and synthetic yarn. The stock has skyrocketed by 19.18 percent after receiving ALMM certification from the Ministry of New and Renewable Energy (MNRE) or its integrated solar roof solution.
Stock Price Movement
In Wednesday’s trading session, Visaka Industries Limited’s share jumped to an intraday high of 19.18 percent from the previous close of Rs. 86.84. The stock opened at Rs. 87.33 and is currently trading at Rs. 100.50, with a high of Rs. 103.50 and a low of Rs. 85.50. The market capitalization now stands at approximately Rs. 868.37 crore.
What Happened
ATUM Solar Roofs, part of Visaka Industries Limited, has received the ALMM certification from the Ministry of New and Renewable Energy (MNRE) for its integrated solar roof solution. This certification recognizes ATUM Solar Roofs as the only company in India offering this government-approved product.
The achievement reflects the company’s commitment to providing innovative and sustainable solar energy solutions, aligning with India’s renewable energy objectives.
Market Leader
Visaka Industries Limited demonstrates strong market leadership in the synthetic yarn business (twin air-jet-spun) with an 80% market share.
The company also ranks #1 in V Next Products with a 32% market share. In the Cement Roofing Sheets segment, they hold an 18% market share, positioning them as the second-largest player.
Product and services
Visaka Industries Limited offers a wide range of products and services, including fiber cement products like corrugated sheets, flat sheets, and sandwich panels for construction.
The company also provides synthetic yarn, innovative hybrid solar roofs (ATUM), and sustainable solutions through its Vnext product line, promoting strength, stability, and aesthetic appeal.
Market Presence
Visaka Industries operates with 12 manufacturing units and a distribution network of over 7,000 dealer outlets across India. It exports products to various international markets, including the Middle East, Africa, and Southeast Asia.
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Recent quarter results and ratios
Visaka Industries Limited’s revenue has decreased from Rs. 1,647 crore in FY23 to Rs. 1,521 crore in FY24, which has down by 7.65 percent. The net profit of Visaka Industries Limited has also down by 94.54 percent, from Rs. 55 crore in FY23 to Rs. 3 crore in FY24.
Visaka Industries Limited’s revenue has grown at a CAGR of 9.71 percent over the last four years. In terms of return ratios, the company’s ROCE and ROE should be 3.33 percent and 0.33 percent, respectively. The debt-to-equity ratio of the company is to be 0.70x. Visaka Industries Limited’s EPS is to be Rs. -1.20.
Shareholding pattern
In September 2024, Visaka Industries Limited had a majority stake held by the promoters at 48.42 percent, foreign institutional investors at 0.38 percent, domestic institutional investors at 0.02 percent, and the public at 51.17 percent.
Company Overview
Visaka Industries Limited was founded in 1981 and is a leading manufacturer specializing in fiber cement products and synthetic yarn. The company initially produced corrugated fiber cement sheets and has since expanded its portfolio to include fiber cement boards, panels, solar panels, and sustainable building materials.
Written By – Nikhil Naik
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