Schneider Electric Shares Goes on for another lower circuit, 6th In a Row
The shares of Schneider Electric Limited in today’s morning session locked in for a 6th in a row lower circuit at a low price of Rs.673.95 a piece.
Schneider Electric Infrastructure Limited, incorporated in 2011, is engaged in the business of manufacturing, designing, building, and servicing technologically advanced products and systems for the electricity network. The company has a total market capitalization of 16,950 crores. The stock of Schneider Electric locked in for a 6th straight lower circuit in today’s morning session.
Schneider Electric Down By 27% in 7 sessions
The stock of Schneider Electric Limited is down by 27% in the last seven sessions. The stock has been reporting five continuous lower circuits from May 24 to May 30 and today it locked in a lower circuit for the sixth straight time in the morning and made a low of Rs.673.95 a piece, This heavy fall has come in the stock after it reported a decline of 92% in its net profits for the Q4 FY 2023-24 results. Despite this declining performance from the stock last week, It is still up by more than 190% over the past year and is up by 73.78% in 2024.
Schneider Electric Q4 Performance
In Q4 FY 2023-24, Schneider Electric reported a 14.9% growth in its revenue to Rs.471.8 from Rs.410 crores. The FY24 revenue is the highest revenue in any year according to the company.
The company’s EBITDA increased by 20.4% from last year to Rs73.3 crore. EBITDA margin for the quarter increased by 70 Bps to 15.5% from 14.8% last year. However, the company reported a 92.86% drop in its net profit to Rs.3.2 crore from Rs.44.8 crore last year. This drop in net profits was mainly due to an increase in expenses in the quarter.
Conclusion
Shares of Schneider Electric Infra Ltd. have hit a 5% lower circuit for the sixth consecutive session on today’s morning session as the company’s report of a significant 92.9% decline in net profit, plummeting to Rs.3.2 crores from Rs.44.8 crores in the previous year. This sharp drop in profitability has triggered a continuous sell-off. The stock has made a 52-week high of Rs.955.05 a piece and a 52-week low of Rs.234.05 a piece and it currently trades at Rs.694 a piece.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.