LEEL Electricals is the latest stock that Porinju Veliyath’s portfolio management company Equity Intelligence has bought.
On September 28, 2017, Equity Intelligence purchased 1,61,950 shares, or 0.40 per cent stake in LEEL Electricals.
With this purchase, the total shareholding of Equity Intelligence in LEEL has increased to 5.4 percent.
Porinju Veliyath is the founder & CEO of Equity Intelligence Private Limited.
LEEL Electricals was formerly known as Lloyd Electric and Engineering.
It is the largest producer of coils / heat exchangers (fin and tube type) in India, serving the entire spectrum of HVAC & R industry in the country as well as OEM’s in North America, Europe, Middle East and Australia.
The company also manufactures air conditioners for the Indian Railways, Metro Rail and buses at its Bhiwadi factory.
For the quarter ended June 30, 2017, LEEL Electricals reported a net sale of Rs 922.88 crore, up 3.27 per cent, against Rs 893.63 crore in the corresponding quarter last year. The net profit of the company slipped 23.74 per cent year-on-year to Rs 33.48 crore during the quarter under review.
Whether LEEL Electricals will become a multibagger stock in Porinju’s portfolio has to be seen.
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