Precision Wires gains after Q2 PAT rises 49.7% YoY; board OKs 5-for-1 stock split

Precision Wires India rose 2.52% to Rs 303 after the company's net profit jumped 49.7% to Rs 15 crore on 80.24% surge in revenue from operations to Rs 706.64 crore in Q2 September 2021 over Q2 September 2020.

Profit before tax (PBT) rose 57.76% to Rs 20.73 crore in Q2 September 2021 over Q2 September 2020.

During the quarter, total expenses rose 81.39% YoY to Rs 688.11 crore. Raw material cost climbed 76.08% YoY to Rs 675.71 crore.

The board declared an interim dividend of Rs 1.75 per equity share.

The board also approved splitting each share of face value Rs 5 each into five shares of face value Re 1 each (5-for-1).

Precision Wires India is the largest producers of winding wires in South Asia. It makes a wide range of products including enamelled round and rectangular copper winding wires, continuously transposed conductors (CTC) and paper/mica/nomex insulated copper conductors (PICC), which are used across the globe by the electrical/electronics industry.

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