Elofic Industries FY24 Results - Is this Undervalued stock worth investing? | Stock Market News
Elofic Industries Unlisted Shares has announced its financial results, and it's been a rollercoaster ride! Why? Let me explain the Elofic Industries FY24 Results !
First, look at Elofic's revenue, which has decreased by 2.3%, from ₹360 crore to ₹352 crore.
But now, check out its net profit, which has increased by 26%, reaching ₹48 crore. This clearly shows that the company has managed its resources and cost management efficiently.
The story doesn't end here! Elofic's EPS has also surged by 27.3%, rising to ₹191!
Additionally, there’s been a 19.9% growth in its operating profit, from ₹249 crore to ₹299 crore, and equity has also risen by 22.7%, from ₹257 crore. This demonstrates that the company's capital structure is now even stronger.
Elofic's P/E ratio stands at 12.18, while its peer, Jay Bharat Maruti Ltd., has a P/E ratio of 36.93. This makes Elofic Industries Pre IPO quite an undervalued opportunity. However, we do not recommend buying new shares at this time. But if you already own shares, you can hold onto them.
About Elofic Industries Ltd:
Elofic Industries is a leading manufacturer of filtration and lubrication products in India. With a legacy spanning over 70 years, the company has established itself as a trusted name in the industry. Elofic offers a comprehensive range of products including oil filters, air filters, fuel filters, hydraulic filters, coolants, lubricants, and greases. Their commitment to quality and innovation has enabled them to serve a diverse clientele, including Fortune 500 companies and OEMs across various sectors. With state-of-the-art manufacturing facilities and a global presence, Elofic continues to drive the filtration and lubrication industry forward.
Join Us For all the latest updates about startups, preipo and unicorns.
Keep yourself updated with the market situation.
Join us on Facebook
Contact us at +91 7065560002 via Whatsapp/Normal call
Or Mail us at help@planify.in
⬇️ Download the app for easy access. Links are given below: