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Business News/ Markets / Stock Markets/  Smallcap stock Schneider Electric Infra rallies 15%, hits fresh 1-year high; here's why
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Smallcap stock Schneider Electric Infra rallies 15%, hits fresh 1-year high; here's why

Strong quarter and FY23 earnings has lifted smallcap stock Schneider Electric Infra on exchanges. The stock is the top gainer on BSE and has touched a new 52-week high. In a year. this stock has skyrocketed by nearly 95%.

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Team of traders working with forex (foreign exchange) trading charts and graphs on computer screen, concept about stock market investment, finance, selling and buying

Smallcap stock Schneider Electric Infrastructure witnessed a strong buying on Wednesday after its strong performance year-on-year in the fourth quarter of FY23. The stock has touched a new 52-week high and is the top gainer on the exchange BSE. Overall, the stock has zoomed by at least 16.5% today.

At the time of writing, the smallcap stock traded at 214.90 up by 25.80 or 13.64%. The stock has gained by 16.49% with a new 52-week high of 220.30 apiece on BSE.

The reason for the upside is that Schneider recorded the highest-ever revenue and profit since its inception for FY23. Also, it has shown consistent profitable growth for four quarters straight. The operating cash flow is also positive at 95 crore. While it managed to reduce its debt to 59 crore.

Also, the company saw good momentum in orders in all segments with order book to 557.5 crore in Q4FY23 versus 504 crore in Q4FY22, registering growth of 10.6%. FY23 order book climbed by 10.3% to 1,537.6 crore versus 1,393.8 crore in FY22.

Read here: Cummins India Q4 results: Net profit zooms 68% YoY to 319 Cr, Board declares 650% dividend

Further, the company maintained a healthy momentum in sales which climbed by 20.7% YoY to 410.5 crore in Q4FY23, up by 16.1% to 1,777.2 crore in overall FY23.

In terms of the bottom-line front, PAT stood at 44.8 crore in Q4FY23, compared to a PAT of just 7 lakh in Q4FY22. EBITDA also more than tripled to 64.9 crore in Q4FY23 as against 20 crore in Q4FY22. Revenue stood at 410.51 crore in Q4FY23, versus 340 crore in Q4FY22. Gross margins improved as well to 154.2 crore in Q4FY23 versus 99.2 crore in Q4FY22, due to RM cost normalization and better mix.

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FY23 profit was up to 123.62 crore versus 27.6 crore in FY22. Revenue came in at 1,777.19 crore in FY23, compared to 1,530.34 crore in FY22.

In a month, Schneider Electric's share price has zoomed by nearly 23% on BSE; while its half-yearly gain is even higher by 31.5%. Year-to-date, the stock has rallied over 30%. In a year, the stock has skyrocketed by nearly 95% on the exchange.

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Published: 24 May 2023, 03:26 PM IST
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