Comrade Appliances jumped 5.60% to Rs 132 after the company announced that it has received an order from Reliance Retail for the supply of air coolers valued at over Rs 14.88 crore.
According to an exchange filing, the order valued at Rs 14.88 crore involves the supply of air coolers and will be executed within three months.These orders are expected to positively impact the companys revenue in the upcoming quarters. We remain committed to delivering high-quality products to our esteemed customers, the firm stated in an exchange filing.
Comrade Appliances is a manufacturing company that produces air coolers and electric geysers. The company offers both original equipment manufacturing (OEM) and original design manufacturing (ODM) services. Its products are sold under the brand name "Comrade." The company has a manufacturing facility in Palghar, Maharashtra. They have developed in-house capabilities in SMT lines, injection molding, sheet metal components, and testing labs.
On a full-year basis, the company's standalone net profit dropped 67.7% to Rs 0.53 crore in FY24 as against Rs 1.64 crore posted in FY23. Revenue from operations rose 7.5% to Rs 28.99 crore in FY24 as compared to Rs 26.96 crore recorded in FY23.
As of 26 December 2024, the companys market capitalization stood at Rs 99 crore on the BSE.
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