Latest news with #Vadodara-based
Economic Times
2 days ago
- Business
- Economic Times
Parth Electricals IPO listing today. Check GMP ahead of debut
Parth Electricals is set to make its market debut on the NSE SME platform on Monday after a strong investor response to its Rs 49.72 crore IPO. The grey market premium (GMP) is currently hovering at around 4%, suggesting the possibility of a mild premium over the issue price of Rs 170 per share on listing day. ADVERTISEMENT The IPO, which was entirely a fresh issue of 29.25 lakh shares, opened for subscription on August 4 and closed on August 6. It received robust overall demand, being subscribed 23.77 times. The non-institutional investor (NII) category led the rush with 43.93 times subscription, followed by retail investors at 20.28 times and qualified institutional buyers (QIBs) at 17.65 times. Parth Electricals has grown from a service-oriented firm into a manufacturing player in the electrical equipment product portfolio includes medium voltage (MV) switchgear panels, vacuum circuit breaker (VCB) panels, earth link boxes, control and relay panels (CRP), and compact substations (CSS).The company also undertakes turnkey projects for air-insulated substations (AIS) and gas-insulated substations (GIS) up to 220 kV, as well as high-voltage and extra-high-voltage cable-laying projects. ADVERTISEMENT The Vadodara-based manufacturer counts Aditya Birla Group, Ultratech Cement, Larsen & Toubro, Reliance Industries, Adani Group, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power among its clientele. It has also expanded its reach to international markets. IPO proceeds will fund the establishment of a GIS manufacturing facility in Gujarat, set up another facility in Odisha, repay short-term borrowings, and meet general corporate purposes. With an order book worth about Rs 230 crore to be executed by 2026, the company enters the bourses on a strong operational footing. ADVERTISEMENT Also read: Stock exchanges expand definition of 'Promoters' for IPOs to enhance corporate governance Investors will be watching Monday's debut closely to see if the stock sustains momentum beyond the modest grey market pricing signal. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
4 days ago
- General
- Time of India
From sisters worldwide, Op Sindoor heroes recieve 65k rakhis
Vadodara: They risked their lives during Operation Sindoor , ventured deep into enemy territory, and defended the borders when Pakistan attacked. This Rakshabandhan, the soldiers of the Indian armed forces received an outpouring of gratitude — 65,000 rakhis sent from women across India and 16 other countries. The initiative is led by Vadodara-based retired teacher Sanjay Bachav, who has been sending rakhis to troops on the border for the past 10 years. Some of these rakhis, he said, will be tied on the wrists of soldiers who took part in Operation Sindoor. "Sisters tie rakhi on the wrists of brothers who promise to protect them. Our armed forces saved our lives and protected us in the truest sense. Sending them rakhis is a small gesture of appreciation," Bachav told TOI. The idea struck him a decade ago when he realised that while festivals are celebrated at home in comfort, soldiers spend them guarding the borders. In 2015, he roped in his students to help pack 2,500 rakhis and courier them to army posts. Word of the initiative soon spread, and women from across India and even abroad began sending him rakhis, which he carefully packed and forwarded to the troops. "The aim was also to instil patriotism and respect for the armed forces among students. We began sending letters along with the rakhis, and some soldiers replied, thanking us for the gesture," he said. This year, women from 16 countries contributed, helping the count reach 65,000 rakhis — the highest yet. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
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Business Standard
6 days ago
- Business
- Business Standard
Alembic Pharma dips 3% post Q1 results; MOFSL retains Neutral, here's why
Alembic Pharma share price today: Shares of Vadodara-based pharmaceutical company Alembic Pharma fell around 3.5 per cent on Wednesday, on the NSE, after the company reported its June 2025 quarter (Q1FY26) results. The stock touched an intraday low of ₹913.4. At 1:35 PM, Alembic was trading 1.7 per cent lower at ₹931 on the NSE. In comparison, the NSE Nifty was trading lower by 0.13 per cent at 24,618.45. The stock has crashed around 27 per cent from its 52-week high of ₹1,303.9 touched on October 9, 2024. CATCH STOCK MARKET UPDATES TODAY LIVE In addition, the overall muted sentiment around pharma stocks after US President Donald Trump hinted at as much as a 250 per cent tariff rate in 12 to 18 months also impacted the stock. The Nifty Pharma index fell as much as 1.8 per cent on Wednesday. Alembic Pharmaceuticals Q1 results The company reported a 14 per cent increase in consolidated net profit year-on-year (Y-o-Y) to ₹154.33 crore for the Q1FY26 compared to ₹131.21 crore in the year-ago period. Revenue from operations also rose by 10 per cent Y-o-Y to ₹1,710.72 crore against ₹1,561.73 crore in Q1FY25. Alembic's India branded business witnessed 5 per cent Y-o-Y growth to ₹599 crore in the quarter under review. United States generic revenue also grew 13 per cent to ₹523 crore, on the back of four new launches in the market. The company secured six abbreviated new drug application (ANDA) approvals during the quarter, bringing total approvals to 223. The active pharmaceutical ingredient (API) business grew marginally by 1 per cent, with revenue of ₹261 crore for the quarter. Alembic Pharma Q1 results analysis - Motilal Oswal Financial Services According to analysts at MOFSL, Alembic Pharma delivered a largely in-line performance for 1QFY26 as superior execution in the export market led to Y-o-Y growth in revenue/Ebitda/PAT for the quarter. However, this growth was offset, to some extent, by a muted show in the domestic formulation (DF) and API segments. Alembic Pharma maintained its growth momentum in the US market on the back of new launches. Notably, upcoming introductions such as g-Entresto have the potential to further strengthen growth in the US generics segment. That said, a broader scope of business would be necessary to enhance capacity utilisation and, in turn, improve the profitability of the US generics segment, MOFSL said in a note. "After a muted performance in FY25, ALPM is working to improve business prospects across its key markets. Growth in export markets is strengthening on the back of new launches and superior supply chain management. Considering these aspects, we expect a 24 per cent earnings compound annual growth rate (CAGR) over FY25-27. The current valuation largely factors in the earnings upside," the brokerage said. MOFSL has maintained a 'Neutral' rating on the stock with a target price of ₹990. About Alembic Pharma Incorporated in 2010, Alembic Pharmaceuticals is engaged in the business of development, manufacturing, and marketing of pharmaceutical products, including formulations and active pharmaceutical ingredients. Its products can be broadly classified into active pharmaceutical ingredients (APIs), formulations, and international generics. Alembic's customers include pharmaceutical companies for APIs, healthcare facilities and patients for formulations, and healthcare facilities and patients for international generics. It has presence across 33 states and union territories in India and 78 countries globally.
Time of India
04-08-2025
- Business
- Time of India
Parth Electricals IPO opens to raise ₹62 crore for GIS expansion in Gujarat, Odisha
New Delhi: Vadodara-based Parth Electricals & Engineering Ltd has launched its ₹62 crore initial public offering (IPO) on NSE Emerge to fund expansion of its Gas Insulated Switchgear (GIS) manufacturing facilities in Gujarat and Odisha. Of the total issue, the company had already raised ₹13.8 crore in an anchor round from Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund, while Waaree Sustainable Finance Pvt Ltd had invested ahead of the IPO. The IPO, which opened on August 4, is priced in the band of ₹160–₹170 per share, with the public issue component aimed at raising ₹49 crore. Founded in 2005 by former Siemens engineer Jignesh Patel, the company manufactures and installs key power distribution infrastructure including Ring Main Units (RMUs), Compact Substations, and Gas Insulated Switchgear, critical to India's grid upgrades, renewable energy evacuation, and smart city projects. Parth Electricals operates under a licensing arrangement with Schneider Electric SAS, France, to manufacture and sell type-tested RMUs and compact substations. It also has a technology transfer agreement with Hezong, China, for the production of GIS systems ranging from 33kV to 220kV. The company clocked ₹174.7 crore in revenue in FY25, up from ₹86.9 crore the previous year. Profit after tax was ₹10.1 crore, while EBITDA stood at ₹17.5 crore. The company reported a Return on Capital Employed (RoCE) of 46%. Parth has an existing capacity to produce 3,000 RMUs and 100 compact substations annually. The new GIS manufacturing unit in Vadodara will serve 33kV–132kV demand, while the Odisha unit will cater to eastern India's infrastructure needs. In March 2024, Parth supplied 225 RMUs to UGVCL under the Revamped Distribution Sector Scheme (RDSS). Its client list includes Tata Steel, Adani, IOCL, Reliance, and Essar, with project executions including emergency GIS deployment at Jamnagar refinery and 220kV GIS for Tata Steel at Kalinganagar. The company has also entered international markets with a $4.8 million LT panel order for Mesabi Metallics in the United States and is in the process of obtaining UL certification to expand in North America. On the sustainability front, Parth operates a rooftop solar plant at its Vadodara unit, has partnered with Tata Power Renewable Energy Ltd for clean energy at its Odisha unit, and refurbishes used RMUs to reduce industrial waste. 'Whether it's smart cities, renewable parks, or public transport electrification, our focus is to deliver safe, scalable, and localised power solutions that India needs for the next 25 years,' said Jignesh Patel, Chairman & Managing Director, Parth Electricals.
Economic Times
04-08-2025
- Business
- Economic Times
Parth Electricals & Engineering raises Rs 13.8 cr from anchor investors ahead of IPO
Parth Electricals & Engineering, an electrical components manufacturer, on Sunday said it has raised Rs 13.8 crore from anchor investors ahead of the opening of its Rs 49.72 crore initial public offering on August 4. ADVERTISEMENT Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund are among the investors which participated in the anchor investor round, the company said in a statement. The company has fixed the IPO price at Rs 160-170 per share. The Rs 49.72 crore initial public offering (IPO) will hit the capital market on August 4 and concludes on August 6. The shares will be listed on the NSE SME's platform Emerge. The public issue is entirely a fresh issue of 29.25 lakh shares worth Rs 49.72 crore. The company had mobilised Rs 12 crore through a pre-IPO placement. The net proceeds from the issue worth Rs 20 crore will be used towards funding of establishing GIS manufacturing facility in Gujarat, Rs 19 crore for setting up a new manufacturing facility in Odisha, Rs 15 crore for payment of debt and the rest will be used for the general corporate purposes. "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year. ADVERTISEMENT "The company currently operates out of a facility in Vadodara, Gujarat, and is investing Rs 40 crore to set up two new plants -- one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha -- to cater to high-growth regions such as eastern India," Parth Electricals & Engineering's Managing Director Jignesh Patel, said. Parth Electricals' order book stood at Rs 140 crore, buoyed by a recent Rs 48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With growing demand from utilities like Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL) , and Damodar Valley Corporation, the company is also doubling down on talent, aiming to expand its workforce from 250 to 550. ADVERTISEMENT The Vadodara-based company's clientele includes Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. The company reported a revenue from operations of Rs 174.67 crore and profit after tax of Rs 10.11 crore in FY25. Horizon Management is the sole book running lead manager while KFin Technologies is the registrar for the IPO. PTI (You can now subscribe to our ETMarkets WhatsApp channel)
