Schneider Electric hits 52-week high as board approves Rs 138 cr expansion project

Shares of Schneider Electric Infra hit 52-week high of Rs 164.25 in Thursday’s trade after the company received approval from its board of directors for enhancing the production capacity of vacuum interrupters and vacuum circuit breakers by setting up a manufacturing unit in Kolkata.

At 10.25 am, the stock was trading 15 per cent higher at Rs 164.25 over the last day’s closing of Rs 142.95. In the last 3 years, the stock has risen over 40 per cent and is up nearly 52 per cent in the last 6 months.

The company has proposed 180k MV Vacuum Interrupters and MV Vacuum Circuit Breakers assembly lines and the proposed assembly line will be added during FY 2023-24 to FY 2027-28. Schneider Electric will invest Rs 138 crore over a period of 3 years for the same.

For the quarter ended June 30 2022, the company reported revenue of Rs 371.48 crore, up 28.91 per cent from the year-ago quarter's revenue of Rs 288.18 crore. The company reported a net profit of Rs 26.53 crore for the latest quarter.