Geojit has issued a buy recommendation for Olectra Greentech, setting a target price of Rs 2086. Currently, the stock is trading at Rs 1840.15.
About Olectra Greentech
Olectra Greentech Ltd., founded in 2000, is a small-cap company in the electric/electronics sector with a market capitalization of Rs 14,841.84 crore. The company’s main revenue sources for the year ending March 31, 2023, were the sale of services and other operating income.
Financial Performance
For the quarter ending March 31, 2024, Olectra Greentech reported a consolidated total income of Rs 293.58 crore. This represents a decline of 14.82% from the previous quarter’s total income of Rs 344.66 crore and a 22.01% decrease from the same quarter last year, which was Rs 376.44 crore. The company posted a net profit after tax of Rs 11.28 crore for the latest quarter.
Ownership Structure
As of March 31, 2024, the company’s promoters held a 50.02% stake, while Foreign Institutional Investors (FIIs) owned 8.58% and Domestic Institutional Investors (DIIs) owned 0.14%.
Geojit’s buy call on Olectra Greentech highlights the potential for growth despite recent declines in income, indicating confidence in the company’s future prospects.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
