Panache Digilife Stock Hits Upper Circuit After Laptop Supply Agreement
Shares of Panache Digilife, an IoT devices manufacturer, surged, hitting the upper circuit, after the company announced a significant manufacturing and supply agreement with a global customer.
Market Performance
With a market capitalization of ₹476.79 crore, Panache Digilife's stock was trading at ₹313.10, reflecting an increase of approximately 1.99% compared to the previous closing price of ₹307. The market responded positively to the news, leading to the stock reaching its upper limit.
Details of the Supply Agreement
The stock's upward movement was triggered by the signing of a Manufacture and Supply Agreement (MSA) with a global client for the production and supply of laptops. This agreement reinforces the company's commitment to innovation and growth in the global tech sector.
Under this agreement, Panache Digilife will leverage its advanced manufacturing infrastructure to produce cutting-edge laptops tailored to meet the specific demands of its international consumers. This partnership is set to not only boost the company's position in the competitive laptop market but also aid in its international expansion efforts.
Financial Performance
Analyzing the company's financials, revenue saw a 14% increase from ₹20.58 crore in Q2FY24 to ₹23.46 crore in Q2FY25. Simultaneously, net profit experienced a remarkable 665% surge, rising from ₹0.29 crore to ₹2.22 crore during the same period.
Key Financial Ratios
The company's critical ratios reveal a mixed picture. The return on equity decreased from 2.62% in FY22-23 to 1.73% in FY23-24, while the return on capital employed saw an increase from 15.77% to 23.94%. The net profit margin (NPM) for fiscal year 23-24 stands at 0.55%.
Shareholding Pattern
The latest shareholding data indicates that Promoters hold 51.61% of the company's shares, with Retail shareholders owning 48.39%. Domestic Institutional Investors currently hold a 0% stake.
Company Portfolio
Panache Digilife Limited is an ICT and IoT devices design, manufacturing, distribution, and services company. Its focus areas include smart computing devices & virtualization, smart & digital classrooms, smart & connected cars, retail lots, smart water solutions, and other electronic manufacturing opportunities.
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