The surge after listing suggests the market thinks NGEL was undervalued in the IPO. NGEL saw revenue growth at 47 per cent annually over financial year 2022-24 with an operating profit margin at 87-90 per cent in previous three years, as operating profit rose from ₹795 crore in financial year 2022 (FY22) to ₹1,747 crore in FY24.
Between FY22-FY24, net profit rose by 90 per cent annually to ₹345 crore (FY22 net profit was ₹95 crore). But the net profit in FY24 was less than FY23 because the FY23 tax rate was negative (minus 17 per cent) while it was positive in FY24 (29 per cent). The operating profit for the first half of FY2025 (H1FY25) was at ₹933 crore.
This story is from the December 04, 2024 edition of Business Standard.
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This story is from the December 04, 2024 edition of Business Standard.
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