Smallcap stock Schneider Electric Infra rallies 15%, hits fresh 1-year high; here’s why

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.

Read here: IndusInd Bank fixes record date for ₹14 per share dividend, scrip trading near 52-week-high

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.