 "Revathi Equipment zooms 40% in two days on strong Q4 results")
Revathi Equipment shares rallied 17 per cent to Rs 519 on Friday, surging 40 per cent in the past two trading days on the BSE, after the company reported an over four-fold jump in consolidated net profit at Rs 10.17 crore in March quarter (Q4FY19). The company had a posted profit of Rs 2.25 crore in year ago quarter.
Operational revenue during the quarter under review grew 27 per cent at Rs 81.88 crore against Rs 64.31 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest tax depreciation and amortization) margin declined to 13.26 per cent from 15.3 per cent, due to higher other expenses.
Revathi Equipment, incorporated in 1977 manufactures blast-hole drills (rotary and down-the-hole, diesel/electric driven) for mining applications, jack less-drills, water well drills, hydro-fracturing units, and exploratory drills. These are used extensively in coal, copper, gold, iron, zinc, phosphate, bauxite, lignite, and limestone mines. Plant is in Malumachampatti in Coimbatore, Tamil Nadu.
The company predominantly supplies to Coal India and its subsidiaries, including Northern Coalfields Singrauli, South Eastern Coalfields Bilaspur, Central Coalfields Ranchi, Western Coalfields Nagpur, and Eastern Coalfields Ltd. Other prominent customers in DED include Department of Supplies, Chennai; Tata Steel; and Hindustan Zinc.
At 11:00 am, the stock was trading 12 per cent higher at Rs 500 on the BSE, as compared to a 0.54 per cent rise in the S&P BSE Sensex. A combined 82,394 shares have changed hands on the counter on the NSE and BSE so far.
Operational revenue during the quarter under review grew 27 per cent at Rs 81.88 crore against Rs 64.31 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest tax depreciation and amortization) margin declined to 13.26 per cent from 15.3 per cent, due to higher other expenses.
Revathi Equipment, incorporated in 1977 manufactures blast-hole drills (rotary and down-the-hole, diesel/electric driven) for mining applications, jack less-drills, water well drills, hydro-fracturing units, and exploratory drills. These are used extensively in coal, copper, gold, iron, zinc, phosphate, bauxite, lignite, and limestone mines. Plant is in Malumachampatti in Coimbatore, Tamil Nadu.
The company predominantly supplies to Coal India and its subsidiaries, including Northern Coalfields Singrauli, South Eastern Coalfields Bilaspur, Central Coalfields Ranchi, Western Coalfields Nagpur, and Eastern Coalfields Ltd. Other prominent customers in DED include Department of Supplies, Chennai; Tata Steel; and Hindustan Zinc.
At 11:00 am, the stock was trading 12 per cent higher at Rs 500 on the BSE, as compared to a 0.54 per cent rise in the S&P BSE Sensex. A combined 82,394 shares have changed hands on the counter on the NSE and BSE so far.
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