September 12th 2023.
Nashik-based Rishabh Instruments Limited, a global energy efficiency solution company, is now listed on the exchanges. On Monday, the scrip was listed at Rs 460 per share on BSE and Rs 460.05 per share on NSE, at a premium of 4.31% and 4.32% respectively.
At the close of the day, the share prices for Rishabh Instruments were Rs 442.75 per share on the BSE, and Rs 441.50 per share on the NSE, a 0.40% and 0.11% premium respectively.
According to the National Stock Exchange, a total quantity of 8.04 lakh shares were traded, and the total turnover on Day 1 was Rs 391.11 crore.
Speaking on the occasion of the listing, Mr. Narendra Joharimal Goliya, CMD of Rishabh Instruments Limited, said, “This marks a significant milestone in our journey, and I would like to thank our dedicated team, loyal customers and supportive stakeholders who have been the driving force behind our success. We are committed to delivering value, innovation, and sustainable growth, and look forward to the opportunities that come with this new chapter.”
The Market Capitalization of the Company, at the closing price of Monday, stood at Rs. 1680.74 Crore as per BSE and Rs. 1675.99 Crore as per NSE.
Rishabh Instruments was founded by Mr. Narendra Joharimal Goliya in 1982, and he has more than four decades of experience in the electrical and electronic instruments industry. The company provides a wide range of electrical measurement and process optimization equipment, designs, develops, manufactures and sells devices under its own brand across several sectors.
Rishabh Instruments is a vertically integrated player, meaning they are involved in designing, developing, manufacturing and supplying electrical automation devices, metering, control and protection devices, portable test and measuring instruments, and solar string inverters. Furthermore, its subsidiary Lumel Alucast manufactures and supplies high pressure die cast aluminum components to the automation and automotive industry mainly in Europe.
According to the F&S report mentioned in the Red Herring Prospectus, the Company is a global leader in the manufacture and supply of analog panel meters and is also one of the leading global manufacturers and suppliers of low voltage current transformers. Lumel is the most popular brand in Poland and Lumel Alucast is one of the leading non-ferrous pressure casting players in Europe.
In Fiscal 2023, Rishabh Instruments’ revenue from operations increased 21.11%, from Rs 470.25 crore to Rs 569.54 crore, driven by increase in revenue from sale of goods and services. Profit also grew to Rs 49.69 crore in Fiscal 2023, as compared to Rs 49.65 crore in Fiscal 2022.
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