Eunisell Interlinked Plc, a provider of electrical and electronic solutions listed on the Nigerian Exchange Group Plc (NGX), reported a significant gain of approximately 60.72 per cent by the close of weekly trading, positioning it as the top gainer for the week.
This development underscores the demand for the shares of the new power company, which concluded trading on Friday with a N1.72bn increase, bringing its market valuation to N4.56bn.
According to an analysis by THE WHISTLER, the company’s stock grew by 60.72 per cent to N19.27 per share at the weekend from N11.99 with which it opened the trading week on Monday 18th November.
A further analysis showed Eunisell closed the trading week with N4.56bn in market capitalisation, as against N1.72bn at the beginning of trading week, hence recording a gain of N1.72bn or 60.72 per cent.
Eunisell Interlinked began the year with a share price of N3.20 and has since gained 502 per cent on the price valuation.
The surge in the share price may not be unconnected with the company’s sterling performance it its financial year ended September 2024 in which the profit grew by 282 per cent, the highest in 7 years.
Other three notable gainers included shares of Tantalizers Plc which experienced a 57.33 per cent gain from 0.75 kobo per share to N1.18 at the close of trading on weekend.
Similarly, John Holt Plc witnessed a 42.49 per cent increase to close trading at N11.00 per share from an opening figure of N7.72. Additionally, Austin Laz Plc’s shares increased by 34.34 per cent to close at N2.66 per share from the opening price of N1.98 per share.
Eunisell Interlinked Plc, formerly known as Interlinked Technologies Plc reported a 282 per cent growth in its after-tax profit for the fiscal year ending September 30, 2024, from a loss in the previous year.
In its recently filed audited financial statement with the Nigeria Exchange Limited, the company revealed that its after-tax profit surged to N122.4m from a loss of N4.5m in nine months in 2023.
Revenue increased by 156.8 per cent to N360.5m from N43.6m while gross earnings rose to N168.7m from N21.4m year-on-year.
Revenue generated from power products surged to N320.9m from N32.9m, while sales from electrical panels and accessories grew to N12.5m. Also, revenue from construction/manufacturing stood at N27m.
The company’s cost of sales grew by 158.8 per cent to N191.9m from N22.2m in the third quarter (Q3) of 2023. Its operating expenses rose to N38.3m from N20.6m year-on-year.
Eunisell’s profit from operations surged to N130.4m from N819,000, with finance costs increasing to N7.9m from N5.4m. Administrative expenses stood at N38.4m.
However, the company recorded a loss from cash generated from operations from N6.4m to a loss of N156.7m in nine months of 2023 while cash and cash equivalent rose to N2.9m from N879,000.
The company’s total assets rose to N694.4m from N511m while total shareholders’ funds grew to N702.9m from N527.7m.