Monday , 29 November 2021
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Jagan Lamps gains on planning for capacity expansion by end of FY22

Jagan Lamps gains on planning for capacity expansion by end of FY22

Jagan Lamps is currently trading at Rs. 63.00, up by 0.30 points or 0.48% from its previous closing of Rs. 62.70 on the BSE.

The scrip opened at Rs. 60.30 and has touched a high and low of Rs. 63.30 and Rs. 56.20 respectively. So far 11761 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 74.00 on 27-Jul-2021 and a 52 week low of Rs. 16.60 on 23-Nov-2020.

Last one week high and low of the scrip stood at Rs. 69.85 and Rs. 56.20 respectively. The current market cap of the company is Rs. 45.33 crore.

The promoters holding in the company stood at 55.51% and Non-Institutions held 44.49%.

Jagan Lamps has planned for capacity expansion by the end of Financial Year 2021-22. The company is expected to operate at 65-70% capacity utilization, which will give the company bandwidth to grow business for another 2-3 years at minimal capital expenditure (capex).

The capacity expansion will make the company one of the largest manufacturers of automotive bulbs in India with widest range under its portfolio. The proposed capex in plant and machinery, utilities and other related infrastructure will be financed by mix of internal accruals and debt.

Jagan Lamps is a leading manufacturer and exporter of Auto Bulbs, Halogen Bulbs, Head Lights, Automotive Electrical Spares and other related products of extremely high quality at competitive prices.