INDO-MIM SHARES HIT 10% UPPER CIRCUIT ON STRONG Q1 RESULTS

Shares of Indo-MIM hit the 10 percent upper circuit today, a day after the newly listed company reported strong results for the June quarter. Indo-MIM posted a 31.6 percent year-on-year increase in consolidated net profit, compared with Rs 182 crore in the corresponding quarter last year. Revenue from core operations rose 9.3 percent year-on-year. The company maintained tight control over expenses, with total costs increasing just 1.6 percent in the year-ago period. The improvement was supported by a decline in raw material costs, which fell 11 percent year-on-year. Operating performance also strengthened during the quarter. EBITDA rose 24.4 percent year-on-year, while the EBITDA margin expanded to 33.35 percent. Indo-MIM manufactures precision engineering components using Metal Injection Moulding technology and offers end-to-end manufacturing solutions across various industries. The strong quarterly performance, particularly the expansion in profitability and margins, triggered buying interest in the stock.