Wednesday, December 7, 2022

Tirupati Forge marks all round growth for Q1 of F.Y. 2022-23

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Rajkot (Gujarat) [India], August 23: Tirupati Forge Limited, a Rajkot based company engaged in the manufacturing and exporting of carbon steel forged flanges, forged components and other automotive components has posted spectacular performance for the Q1 of F.Y. 2022-23 against Q1 of F.Y. 2021-22. It has not only posted near 100 per cent growth in the topline, but has also marked 395% growth in the bottom line.

As per the audited results announced by the company, it has posted turnover of Rs. 26.05 cr. with a net profit of Rs. 3.08 cr. for the Q1 of F.Y. 2022-23 compared to a turnover of Rs. 13.05 cr. with a net profit of Rs. 0.62 cr. for the corresponding previous period.

It has an installed capacity of 25000 MTPA and over 90% production is earmarked for exports. Tirupati is accredited with ISO-9001:2015 certification, PED-AD 2000 and CRN. The brand is well known globally and is being exported to USA, Canada, and European and Aftrican countries.

Tirupati Forge Ltd. is currently listed on NSE Main Board platform and its last traded price is Rs. 13.60 (FV of Rs. 2). It has posted last 52 weeks high/low of Rs. 17.05/ Rs. 8.81. For the financial year 2021-22, it earned net profit of Rs. 6.22 cr. on a turnover of Rs. 89.30 cr.  Promoters are holding 57.59% shares as of March 31, 2022. In October 2021, The Company alloted bonus shares in the ratio of 3 shares for every 4 shares held.

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