Multibagger Hind Rectifiers share price rises 5% to all time high: Hits circuit limit post Q1 results

Stock Market Today: Multibagger Hind Rectifiers Ltd share price that gained 5% in the intraday trades on Friday also hit the 5% price band limit. The Hind Rectifiers had reported its financial performance on Thursday post market hours

Hind Rectifiers share price opened at ₹825.00 on Friday, 4.33% higher than the previous close of Rs790.75 . Hind Rectifiers share price thereafter gained further more to highs of ₹830.25 on the NSE, also hitting the 5% price band limit. Notably Hind Rectifiers share price is now trading at its all time high.

The Hind Rectifiers share price has risen more than 168% in last one year and more than 600% in last 5 years having given Multibagger returns to the investors.

Hind Rectifiers Limited was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hind Rectifiers Ltd., has long standing tradition and experience in developing, designing, manufacturing and marketing Power Semiconductor, Power Electronic Equipment and Railway Transportation Equipment.

During the April- June 2024 quarter Hind Rectifiers net profit at ₹6.93 crore grew multifold over Rs1.90 crore in the year ago quarter and at least 20% over ₹5.12 Crore in the previous quarter.

Hind Rectifiers revenue from operations at ₹135.53 crore grew almost 39% over ₹97.59 Crore in the year ago quarter. However on sequential basis the Hind rectifier revenue from operations declined 10% over ₹151.36 Crore.

The operating performance remained strong and Hind Rectifiers Profit before interest and tax at ₹9.72 crore grew more than 3 fold over ₹2.63 crore in the year ago quarter and was also higher than Rs7.74 crore in the previous quarter.

The Board of of Hind Rectifiers also has considered and approved, in principle, the expansion of the Sinnar Plant with backward integration.

In addition the Board of Hind Rectifiers also appointed Suramya Nevatia, Managing Director & Chief Executive officer (CEO) of the Company, as the new Chairman of the Board, effective August 14, 2024. The current Chairman, Mr. Pradeep Goyal, will retire on August 13, 2024.

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