V-Marc India Limited’s share price reached a 52-week high of Rs.384.55, hitting the 5 percent upper circuit limit after a significant investment by Ashish Kacholia. On August 17, 2024, Kacholia bought 4,97,000 preferential shares of V-Marc India for Rs.14.24 crore. This purchase is classified as Non-QIB (Non-Qualified Institutional Buyer).
The stock opened at its 52-week high and touched the 5 percent upper limit from its previous close of Rs.366.25 per share during Monday’s trading. Kacholia’s investment is expected to potentially strengthen the company’s financial position and could enhance investor confidence. His involvement may also improve the company’s market visibility and offer strategic insights.
In addition to Kacholia’s investment, there were non-QIB investments totaling Rs.46.83 crore for 16,35,000 shares. These contributions are likely to bolster V-Marc India’s market standing and support its growth objectives.
The company’s financial performance has been impressive. In H2FY24, V-Marc India’s revenue surged by 193.23 percent year-on-year to Rs.390 crore from Rs.133 crore in H2FY23. The half-yearly revenue increased by 123 percent from Rs.175 crore in H1FY24.
Profit After Tax (PAT) also showed significant growth. It rose by 163 percent to Rs.21 crore in H2FY24 compared to Rs.8 crore in H2FY23. The net profit jumped 250 percent from Rs.6 crore in H1FY24. As of March 2024, promoters own 69.96 percent of the company, retail investors hold 30.04 percent, and Ashish Kacholia has a 2.03 percent stake.
