Vinny Overseas plans major expansions, aims to boost revenues by ₹18 Cr

Small-cap firm Vinny Overseas Ltd operates in the textile industry. Three cutting-edge Epson machines have been installed by one of the top fabric manufacturers for textile digital printing. To cover the whole capex of these three machines, the firm invested a sizeable amount of internal accruals and borrowed money from banks. These machines are designed to provide high-quality digital printing on textile materials with speed and efficiency. With the installation of these machines, the company expects to achieve a revenue of Rs.12 crores per annum.

The company is well set up to use these machines and provide the optimum results. Together with the Epson machines, the firm has also ordered two Kyocera machines that will be phased-wise installed in March and April and will allow it to increase production capacity and produce Rs. 18 crores in annual revenue, or Rs. 1.5 crores per month.

“In addition to the Epson machines, we have also placed an order for two VEGA X1 Digital lnk Jet printing machines, which will be phased-wise installed in March and April,” said Vinny Overseas in a stock exchange filing.

The 9MFY23 results saw a massive improvement, as the company turned profitable, recovering from a loss of Rs. 3.93 Cr (9MFY22) to a profit of Rs. 1.39 Cr (9MFY23). Vinny Overseas Limited was established in the year 1992 by Late Shri Mohanlalji Parekh & HIralalji Parekh. The company exports to various countries in Dubai, Bahrain, Indonesia, Sri Lanka, U.S.A., China, Brazil, Oman etc.

The company said it is committed to providing its clients with the best quality products and services and with the latest addition of these machines, it is confident of achieving new heights in business and strengthening its position in the market. The company’s mission and vision are to become a global leader by incorporating the highest levels of quality through a combination of technology, service, creative marketing, pricing and cost efficiency and to provide continuous value through innovation, expertise, excellence and attain the highest level of customer satisfaction.

The shares of Vinny Overseas opened today on the NSE at ₹16.70 apiece level, then touched an intraday high of ₹16.80 in the early morning deals and an intraday low of ₹15.20 in afternoon deals, however currently trading at a market price of ₹16.40 with an upside gap of 2.50%. The scrip has delivered a multibagger return of 477.19% in the last 1 year and on a YTD basis it has generated a multibagger return of 165.32% so far in 2023.