Microcap stock in focus after receiving brand approval from Maruti Suzuki & Hyundai for EV tools

During Monday’s trading session, the shares of one of the leading provider of a broad range of specialised hand tools in India are in focus on NSE, after the company secured brand approval from Maruti Suzuki and Hyundai Motor for EV tools.

Price Movement

With a market cap of Rs. 253 crores, the shares of De Neers Tools Limited opened in the red at Rs. 290 on NSE, down by nearly 3.7 percent, as compared to its previous closing price of Rs. 301.1.

What’s the News

According to the latest regulatory filings with the NSE, De Neers Tools Limited announced receiving brand approval from two of India’s premier automotive manufacturers—Maruti Suzuki India Limited and Hyundai Motor India Limited—to supply insulated tools for their electric vehicles (EV) across their workshops nationwide.

This strategic approval positions De Neers at the forefront of India’s rapidly expanding EV ecosystem, positioning the company as a key player in the safety and maintenance infrastructure supporting India’s automotive electrification.

The approval marks a significant milestone in De Neers’ growth strategy, offering multiple competitive advantages, including improved market positioning, access to a nationwide distribution network, greater visibility in India’s EV sector, and enhanced differentiation from competitors.

Also read: UPL Stock jumps 24% in last 3 months despite steep market decline; Here’s why

Financials

De Neers Tools experienced significant growth in its revenue from operations, showing a year-on-year rise of around 17 percent from Rs. 59.3 crores in H1 FY24 to Rs. 69.5 crores in H1 FY25.

Similarly, its net profit increased during the same period from Rs. 4.6 crores to Rs. 8.8 crores, indicating an impressive growth of 91.3 percent YoY. The company has sold nearly 3.5 crore hand tool units during the first half of FY25.

About the Company

De Neers Tools Limited, one of the leading suppliers of hand tools in India, is engaged in the business of wholesale trading of hardware tools, with a wide range of product portfolio including steel hand tools, steel hand tools, non-sparking tools, tool kits, tool-boxes & trolleys, and insulated tools.

The company has been listed on the stock exchange as SME on 11th May 2023.

Written by Shivani Singh

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