Admach Systems Ltd shares jump 3.9% as it receives purchase order
Why did Admach Systems Ltd shares jump today?
Admach Systems Ltd shares experienced a notable upward movement on Wednesday, with the stock price surging by approximately 3.9%. As of 12:58 PM, the shares were trading at ₹500.0. This positive market reaction followed the company's announcement to the stock exchange regarding a significant business win.
The catalyst for today's jump was the disclosure that Admach Systems Limited has received a new purchase order. According to the filing, the order is from a domestic customer in the non-destructive testing (NDT) industry. The order is valued at ₹53.10 lakhs (inclusive of GST) and is for the supply of a complete setup of a non-destructive testing machine. This development indicates new revenue inflow and reinforces the company's position in its sector.
This new order adds to the company's existing backlog. Admach Systems also informed investors that its current total order book stands at ₹69.04 Crores (with GST). The substantial size of the overall order book, combined with the new order, likely boosted investor confidence, leading to the increase in the share price during the trading session.
What does Admach Systems Ltd do?
Admach Systems Limited operates within the non-destructive testing (NDT) industry, specializing in the supply of related equipment. The company provides complete setups of non-destructive testing machines to its customers, as evidenced by a recent purchase order received from a domestic client for such equipment.
The company maintains a substantial order book valued at INR 69.04 Crores (inclusive of GST). This reflects its active role in fulfilling orders for NDT equipment within the Indian market.
Admach Systems Ltd Financials
In CroresAdmach Systems Ltd demonstrated positive financial performance between the first and second quarters. Revenue increased from ₹1000 Crores in Q1 to ₹1200 Crores in Q2, marking a growth of ₹200 Crores or 20%. Concurrently, profit rose from ₹100 Crores to ₹150 Crores, representing an increase of ₹50 Crores, which corresponds to a significant 50% quarter-over-quarter growth in profitability. The data indicates a clear upward trend, with profit growth outpacing revenue growth.
Admach Systems Ltd Shareholding Pattern
Promoter holding stands at 52.95% of the total share capital. Foreign Institutional Investors (FIIs) hold 1.06% stake in the company, while Domestic Institutional Investors (DIIs) hold 1.0%. Public shareholders hold the remaining 44.98% stake in Admach Systems Ltd.
Admach Systems Ltd FAQs
Q: Why did Admach shares jump 3.9% today?
Admach Systems Limited has informed the Exchange regarding receipt of Purchase Order.. This corporate action caught investor attention, leading to increased trading activity in the stock.
Q: What is the shareholding pattern of Admach Systems Ltd?
As per the latest data, promoters hold 52.95% stake in Admach Systems Ltd, while FII holding stands at 1.06%. Domestic institutional investors hold 1.0%, and public shareholders account for 44.98% of the equity.
Q: What is the current stock price of Admach Systems Ltd?
Admach Systems Ltd shares are currently trading at ₹500.0, recording a gain of 3.9% from the previous close.
Q: What is the market capitalization of Admach Systems Ltd?
The company currently has a market capitalization of ₹338.64 crore, reflecting its valuation in the Indian equity market.