Talbros Auto shares rose 6.5% post Q2 earnings; interim dividend announced

Shares of Talbros Automotive Components Ltd ended 4% higher on Wednesday post Q2 earnings. The firm also announced an interim dividend of 10% that is twenty paise per equity share of face value of Rs. 2/- each for the financial year 2023-24. The record date for determining the entitlement of the shareholders for interim dividend has been fixed as Tuesday, November 28, 2023.  Net profit surged 53% to Rs 20 crore in Q2 against net profit of Rs 13.1 crore during the July-September quarter of the previous fiscal. Revenue from operations climbed 21% year-on-year to Rs 194 crore in the September 2023 quarter from Rs 160.7 crore in the corresponding quarter of the previous fiscal.  

Operating profit or EBITDA surged 39% year-on-year to Rs 30.8 crore in the September 2023 quarter against Rs 22.1 crore in Q2 of the previous fiscal. 

EBITDA margin rose to 15.6% year-on-year from 13.6% in Q2 of the previous fiscal.

Talbros Automotive shares gained 6.50% intraday to Rs 247.55 against the previous close of Rs 232.55 on BSE.  Talbros Automotive stock opened flat at Rs 232.10 today. Later, the stock closed 4.07% higher at Rs 241.90 on BSE.  Total 0.60 lakh shares of the firm changed hands amounting to a turnover of Rs 1.44 crore in Wednesday’s trade. Market cap of the firm rose to Rs 1493.20 crore on BSE.

In terms of technicals, the relative strength index (RSI) of Talbros Automotive Components stood at 57.5, signaling it's trading neither in the overbought nor in the oversold zone. Talbros Automotive Components stock is trading higher than the 5 day, 10 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages 

Anuj Talwar, Jt. Managing Director, Talbros Automotive Components Limited said, "On back of the orders won in FY23 and H1 FY24, we are all set to grow upwards with similar trend and efforts are put in to win more orders to strengthen our current order book. JV operations have shown resilient performance throughout the year across its respective segments especially CV and PV segments." 

Talbros Automotive Components Limited is primarily engaged in the manufacturing of automotive components. The company offers a range of products, including multi-layer steel gasket, exhaust manifold gasket, rubber molded gasket, cylinder head gasket, gasket with electrical controls, edge molded gasket and heat shield.  

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