Multibagger SME IPO: Since making its NSE SME debut on May 26, 2023, Krishca Strapping Solutions share price has increased by almost 557%, making its investors very prosperous. Over an 11-month period, the investors who were allocatedshares would have earned ₹7.09 lakhs today. Krishca Strapping share price today opened at ₹338 apiece on NSE, the stock hit an intraday high of ₹357.40, and an intraday low of ₹328.50. Krishca Strapping Solutions share price closed at Rs
According to technical analysts, Krishca Strapping share price witnessed a sharp rally during the June; however, the last few sessions have been of profit booking. Today the stock has regained momentum, holding on to key support. If this upmove sustains, then one can expect a resumption of the upmove back towards 400 with immediate support at 330.
Significant gains in the stock have been witnessed in June 2023 (79%), August 2023 (47%), January 2024 (25%), April 2024 (29%), and June 2024 (49%).
Krishca Strapping Solutions is a producer and distributor of strapping seal and tools. 80 million seals and 18,000 MT of steel straps may be produced annually at the company's Chennai production site.
The firm reached numerous milestones in the second part of the 2024 fiscal year, one of which was landing an jobcontract for ₹2.48 crores from the Steel Authority of India (SAIL), which would last until October 2025. An order for packaging materials worth ₹67.25 lakhs was received by the business from SAIL's Salem facility in Tamil Nadu. The order is valid until October 2024.
Additionally, Krishca Strapping Solutions was able to acquire a major packaging contract worth ₹20.25 crores from Vedanta for the provision of covering and fastening services for trucks and containers carrying completed goods. Additionally, the company has obtained an order for the delivery of steel strapping to the Central Government Public Sector Undertaking, Rashtriya Ispat Nigam Limited, Visakhapatnam Steel Plant, in the amount of ₹1.39 crores.
According to the company's exchange filing, as of March 2024, Krishca Strapping had an order book valued at ₹28.80 crores, of which ₹1.39 crores were from strapping contracts and ₹27.40 crores from packaging contracts.
The firm went on to say that it has been working nonstop to improve its skills and broaden its line of products. Steel straps, steel seals, HDPE and LDPE, main packaging materials, Tarpaulin, Dunnage Air Bag, Cord Strap, Lashing Belts, and Desiccant are just a few of their varied product offerings.
The company intends to establish operations in the Middle East, and they are looking into the possibility of doing so. They constantly attempt to increase their market presence and take part in additional contracts.
With a total income of ₹105.68 crores for the full fiscal year 2024, the firm stated that its revenue exceeded the ₹100 crores milestone, indicating a 45.95% year-over-year rise. With an EBITDA margin of 19.17%, the company's EBITDA for the year was ₹20.26 crores, a rise of 46.02%. The company's profit after tax (PAT) for the 2024 fiscal year was ₹13.24 crores, indicating a 41.73% year-over-year increase with a 12.53% PAT margin.
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