Today, Rico Auto Industries shares surge over 5% on Bse as investor sentiment is bullish after the company reported robust growth in net profit. The net profit of the company increased by 199.54% to Rs 25.91 crore as compared to Rs 8.65 crore in the same quarter last year and sequentially increased by 9.93%. The net sales of the company increased by 17.20% to Rs 602.98 crore as compared to Rs 514.50 crore in the same quarter last year and increased by 9.94% sequentially.
The share of this company clocked a new 52-week high and surged over 5% to Rs 95.50. The scrip opened at Rs 90.37 and touched a high and low of Rs 95.50 and 90.37 respectively. At present the stock is trading at Rs 93.40 up by 3.35% or 3.03 points. The share has a 52-week high of Rs 95.50 and a 52-week low of Rs 33.50. The company is a constituent of Group B and has a market capitalization of Rs 1,263.56 crore.
The company is currently trading at a PE of 24.3x against the industry PE of 26.6X. In FY23, the company delivered an ROE and ROCE of 7.83% and 9.62%, respectively. So far 2,24,087 shares were traded on the counter.
Rico Auto is a dynamic world-class engineering company, supplying a broad range of high precision fully machined ferrous and aluminum components and assemblies to automotive OEMs globally. The company enjoys an excellent reputation for our customer focus, quality and cost-competitiveness. Its engineering excellence, advanced design and development capabilities, strong customer relationships and proven scalability, have helped it become a preferred supplier to OEMs across the globe.
Rico Auto Industries, incorporated in 1984-85, is a world-class engineering company supplying wide integrated services including design, development, tooling, casting, machining and assembly across ferrous and aluminum products.