These 6 firms cut down debt, see up to 92% rally in FY23
1/7
On Growth Path
For a business to expand and grow, it is essential to infuse fresh cash into it, but a heavy debt on the balance sheet is what no companies wish, rather it’s something they dread.
ET Markets found six companies that have reduced their debt by over 25% in FY22 on a year-on-year (YoY) basis while their sales and profit growth numbers rose over 25%. We have excluded entities whose total debt and sales amount was below Rs 100 crore in FY21. Only stocks with a current market cap of over Rs 5,00 crore have been added to the list.
From the BSE universe, 34 companies have made the cut. Interestingly, 6 stocks from the list have gained anywhere between 50 and 90% so far in FY23 (Data Source: ACE Equity).
ET Markets found six companies that have reduced their debt by over 25% in FY22 on a year-on-year (YoY) basis while their sales and profit growth numbers rose over 25%. We have excluded entities whose total debt and sales amount was below Rs 100 crore in FY21. Only stocks with a current market cap of over Rs 5,00 crore have been added to the list.
From the BSE universe, 34 companies have made the cut. Interestingly, 6 stocks from the list have gained anywhere between 50 and 90% so far in FY23 (Data Source: ACE Equity).
2/7
Lloyds Metals & Energy | Price return so far in FY23: 92% | CMP: Rs 255
Total debt in FY22 reduced to Rs 95 crore from Rs 174 crore in FY21.
Net sales in FY22 : Rs 697 crore
Net profit in FY22: Rs 97 crore.
Net sales in FY22 : Rs 697 crore
Net profit in FY22: Rs 97 crore.
3/7
Ram Ratna Wires | Price return so far in FY23: 76% | CMP : Rs 174
Total debt in FY22 reduced to Rs 269 crore from Rs 361crore in FY21.
Net sales in FY22 : Rs 2289 crore
Net profit in FY22: Rs 54 crore
Net sales in FY22 : Rs 2289 crore
Net profit in FY22: Rs 54 crore
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4/7
Tube Investments of India | Price return so far in FY23: 72% | CMP: Rs 2,784
Total debt in FY22 reduced to Rs 804 crore from Rs 1,915 crore in FY21.
Net sales in FY22 : Rs 12,525 crore
Net profit in FY22: Rs 994 crore
Net sales in FY22 : Rs 12,525 crore
Net profit in FY22: Rs 994 crore
5/7
Arvind Smartspaces | Price return so far in FY23: 62% | CMP : Rs 331
Total debt in FY22 reduced to Rs 30 crore from Rs 189 crore in FY21.
Net sales in FY22 : Rs 257 crore
Net profit in FY22: Rs 25 crore
Net sales in FY22 : Rs 257 crore
Net profit in FY22: Rs 25 crore
6/7
NCC | Price return so far in FY23: 55% | CMP : Rs 91
Total debt in FY22 reduced to Rs 1,302 crore from Rs 2,062 crore in FY21.
Net sales in FY22 : Rs 11,138 crore
Net profit in FY22: Rs 493 crore.
Net sales in FY22 : Rs 11,138 crore
Net profit in FY22: Rs 493 crore.
7/7
Mirza International | Price return so far in FY23: 52% | CMP : Rs 245
Total debt in FY22 reduced to Rs 78 crore from Rs 140 crore in FY21.
Net sales in FY22 : Rs 1,679 crore
Net profit in FY22: Rs 113 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Net sales in FY22 : Rs 1,679 crore
Net profit in FY22: Rs 113 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)