Hind Rectifiers spurts as Maharashtra plant starts operations

Hind Rectifiers soared 14.58% to Rs 224 after the company announced the commencement of commercial production of new manufacturing plant situated at Sinnar, Nashik, Maharashtra with effect from 9 March 2023.

The company has constructed around 12,900 square meters at Sinnar plant. The benefits of these new production lines at Sinnar will however be availed in the following years from 2023-24 onwards.

The company said it continues to focus to expand product range by way of developing new products in-house. This development is in line with company's commitment and promises made in the past. "This commercial production will generate additional revenue for company. The company is dedicated to accelerating revenue growth and improving productivity in order to achieve significant margin expansion," the firm said.

 

Hind Rectifiers is principally engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipments and railway transportation equipments.

The company's standalone net profit jumped 84.7% to Rs 2.42 crore on 3.2% rise in net sales to Rs 97.23 crore in Q3 FY23 over Q3 FY22.

Powered by Capital Market - Live News