Growth Engine with AI | The Hi-Tech Gears Ltd | Investing | Stocks and Shares | Dividend Stocks
The Company primarily has been in the business of producing gears and transmission components. The product range includes two wheeler & car transmission and driveline components, engine gears, power take-off tools, precision forging components and others. The year 2000 remains forever in its corporate history. The reason is that that a robotic systems division inaugurated in that year with most advanced facilities for developing and manufacturing the defence and industrial robotics. The company began developing state of the art technologies in the areas of AI (artificial intelligence), automotive embedded systems, computer vision, and biometrics. These technologies meant for mass manufacturing of robotic machines. It is providing spares to Cummins’ worldwide facilities. (Cummins operates in 190 countries and territories). It is also the company that supplies transmissions to Daimler Benz.
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The company earned a net profit of Rs 20.38 cr in FY17, as against Rs 21.16 cr in the previous year FY16.
In the third quarter ended December 31, 2017 (Q3 FY18), the net profit increased to Rs 9.14 cr from Rs 3.38 cr in the year-ago period.
In the first nine months ended December 31, 2017, it recorded a higher net profit of Rs 23.96 cr, as against Rs 16.88 cr in the same period a year earlier.
The company declared Rs 1.50 per share or 15% as interim dividend for the current year. The promoters are controlling 55.3% of the Rs 18.77 cr, the equity capital of the company. The stock of this debt-free company will appreciate decently. It is good for investment.