Eon Electric Limited (EEL), one of the leading corporate industrial house offering multi-product, multi-location company specializing in manufacturing and marketing a wide range of energy efficient LED based Lighting products, Wires and Cables, Electrical Consumer Durables, Lithium Ion Batteries and Mobile phone accessories, today announced its earnings for the quarter ended March 31, 2016, as well as for FY16.
For the fourth quarter of 2015-16 fiscal, the company recorded sales of Rs 52.70 crore, up 39% from Rs 37.83 crore in the same period last fiscal. PAT for the period stood at Rs 1.06 crore. EBIDTA and EBIDTA margins for Q4 FY16 stood at Rs. 3.80 crore and 7.21% respectively.
For FY16, total sales of company grew by 35% to Rs 174.67 Crore. Net loss for the period stood at Rs 4.02 crore. EBIDTA and EBIDTA margins for FY16 stood at Rs.7.19 crore and 4.12% respectively.
Commenting on the financial performance of the company Mr. V.P Mahendru, Chairman and Managing Director, Eon Electric Limited, said,
“The Government’s emphasis on energy efficiency for reducing carbon emissions has provided the necessary impetus for the growth of LED lighting industry. The industry is growing at a fast pace and we are upbeat on future prospects. We are continuously striving to strengthen our product range and technologies to meet growing demand across various markets in the country. Our manufacturing facilities at Haridwar have adequate manufacturing capacity which is sufficient to meet demand”.
Eon Electric Ltd is currently trading at Rs. 85.75, up by Rs. 7.9 or 10.15% from its previous closing of Rs. 77.85 on the BSE.
The scrip opened at Rs. 78.55 and has touched a high and low of Rs. 90 and Rs. 78 respectively. So far 683086(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 125.03 crore.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 91.55 on 28-Dec-2015 and a 52 week low of Rs. 31.8 on 05-Jun-2015. Last one week high and low of the scrip stood at Rs. 83 and Rs. 76 respectively.
The promoters holding in the company stood at 59.07 % while Institutions and Non-Institutions held 0 % and 40.93 % respectively.
The stock is currently trading above its 50 DMA.