Indo Tech Transformers breached the 20% UC within a few minutes of opening at Rs.224.70. Volumes have jumped up an unbelievable 66.5 times – from 2W average of some 2400 shares to over 1.3 lakh shares today.

The reason for this spike up of interest on the counter is thanks to its exuberant Q4 and FY16 performance. The company is a subsidiary of GE – the promoter is Prolec-GE, which is a JV between General Electric and Xignux, holding 74.35% stake. Based in Chennai, the company specializes in making power and distribution transformers.

For Q4FY16, the company posted a 42% (YoY) rise in net sales at Rs.51 crore. Keeping a tight leash on the costs, the company posted a turnaround right from the operating profit level, which came in at Rs.4 crore v/s loss of Rs.3 crore in previous Q4 and loss of Rs.5 crore in Q3. Other income of Rs.6 crore, which was through sale of land in Chennai and Kerala added to the bottomline. The company ended the quarter with a net profit at Rs.10 crore v/s loss of Rs.2 crore in Q3 and net profit of Rs.1 crore in Q4Fy15.

The company ended FY16 with a net revenue of Rs.188 crore, up 21% and it posted a net profit of Rs.4 crore v/s loss of Rs.4 crore in FY15. Equity stands at Rs.10.62 crore and EPS is at Rs.4 (FV of Rs.10/share). Reserves is at Rs.144 crore and cash is at Rs.23 crore v/s Rs.16 crore in FY15.