Repro zooms 48% in 1 week after Madhuri Kela acquires 3.6% stake in company

Shares of Repro India rallied 5 per cent to hit a 52-week high of Rs 619.70 on the National Stock Exchange (NSE) in Friday’s intra-day trade. In the past one week, the stock of the printing & publication company has zoomed 48% after investor Madhuri Kela acquired more than 3 per cent stake in the company via the open market.

According to disclosure made by Repro India, on May 15, 2023, Madhuri Madhusudan Kela and Brijkishor Trading Private Limited collectively acquired 475,000 equity shares, representing 3.59 per cent stake, of Repro India via the open market. Post the acquisition, their total holding in the company has increased to 6.89 per cent from 3.30 per cent, it added.

According to exchange data, Malabar India Fund Ltd sold 512,000 shares or nearly 4.5 percent of the total equity of Repro India at a price of Rs 425 per share, aggregating the deal value at Rs 21.76 crore, the NSE bulk deal data shows.

Based on the March quarter shareholding pattern, the Malabar India Fund held 580,142 equity shares or 4.56 percent stake in the company.

Repro India provides integrated print solutions to publishers and corporations. The company’s business segments include traditional offset printing (education books/materials), PoD business and Repro Applied Learning Solutions (RAPPLES). It has one subsidiary named Repro Books Limited (RBL).

Recently, the rating agency ICRA revised its outlook of Repro India to positive. The revision in outlook reflects the significant recovery in Repro India’s revenues and operating profits in FY22 and FY23 on the back of the strong revival in demand for books, supported by opening of schools, educational institutions and corporate offices, post lifting of the Covid-19 pandemic-related restrictions, which is expected to continue in FY24, it said. 

The group has healthy long-term relationships with reputed clients. Its export clients are leading global publishers like Cambridge University Press, Longman, among others. In the domestic market, the group works for large education publishers including Macmillan Publishers, Oxford University Press, Jeevandeep Prakashan, Symbiosis (Distance Learning), Arihant Publication, etc.

Further, under its digital printing business, the group has forged relationships with key e-commerce players such as Amazon, Flipkart, and Paytm. Repro’s key exports markets include Kenya, Sierra Leone, Nigeria, South Africa, the UK and the US.