Multibagger Metals Stock Soars On 70.32% Rise In Net Profit, Recommends Dividend

Small cap metals sector stock Precision Wires India Ltd shares zoomed 1.92% in trade today to settle at Rs 141.80 per share on BSE. Precision Wires declared a surge of 70.32% in its net profit to Rs 21.92 crore for the quarter ended March 2024 as compared to Rs 12.87 crore reported in the corresponding quarter of last year.

The Board of Directors of Precision Wires also recommended a final dividend of Re 0.45/- per share. Precision Wires shares zoomed 179% in last 2-years. The company has a market capitalisation of Rs 2,533.37 crore. More details below:

Precision Wires Q4 Results: The company declared a surge of 10.82% in its sales to Rs 878.03 crore for March 2024 quarter as compared to Rs Rs 792.27 crore for March 2023 quarter. For the whole year, Precision Wires declared a jump of 22.46% in net profit to Rs 72.85 crore for the year ended March 2024 as against the net profit of Rs 59.49 crore during the preceding fiscal ended March 2023. Sales jumped 8.84% to Rs 3301.69 crore for the year ended March 2024 as against Rs 3033.58 crore during the preceding year ended March 2023.

Precision Wires Recommends Dividend: As per the BSE filing of the company dated May 18, 2024, "on the fully paid Equity Share of Rs. 1/- each, Final Dividend @ 45 % i.e. Rs. 0.45/- was declared, payable to the members within 30 days of approval in the ensuing Annual General Meeting of the Company."

Precision Wires Share Performance: The 52-week high price of Precision Wires shares on BSE is Rs 155.55 per share (as on 01/02/2024) and 52-week low price is Rs 78.00 per share (as on 31/05/2023). Precision Wires shares offered return of 6.38% in last 1-week span, jumped over 12% in last 1-month, gained 59% in last 1-year, and offered return of 416% in last 3-years. In last 5-years, Precision Wires stock soared 462%.

Precision Wires India About: Precision Wires India Limited is the largest manufacturer of Copper Winding Wires/Magnet Wires in South Asia. Its products include Enamelled Round wire, Enamelled Rectangular wire, Continuously Transposed Conductors and Paper Taped Conductors. These products are widely used by the electrical and electronics industry across the globe, according to its official Linkedin page.

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