Vijay Kedia- backed Affordable Robotic and Automation up 9% on NSE nod for mainboard migration

In FY24, the company posted a 43 percent year-on-year revenue growth, driven by a robust 59 percent rise in automation segment revenue.

Shares of Affordable Robotic and Automation rallied over 9 percent to Rs 680 in the afternoon of September 26 after it received in-principle approval from the National Stock Exchange of India Limited (NSE) for migration of trading from the SME platform to the Main Board of NSE.

The Vijay Kedia-backed company provides automation solutions across various industries including automotive, general, and government sectors. They design, manufacture, and install robotic welding systems, automated parking solutions, and automated warehousing systems.

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As per the latest shareholding data available on the BSE, Kedia owns a 9.93 percent stake in the company or 11.16 lakh shares. The company has already received the in-principle approval from the Bombay Stock Exchange of India Limited (BSE) for migration of trading in the equity shares of the company from the SME Platform.

The company provides automation solutions across multiple sectors, including automotive, general industry, and government. Its offerings encompass the design, manufacturing, and installation of robotic welding systems, automated parking solutions, and automated warehousing systems.

Renowned clients in the automotive sector include Mahindra & Mahindra, Maruti Suzuki, Honda, TVS, Piaggio, Volvo, and Eicher. For car-parking solutions, its clientele includes Lodha, Shreepati Group, Parinee, Marvel, VTP Realty, Dhuleva Group, and Swastik Group.

In FY24, the company posted a 43 percent year-on-year revenue growth, driven by a robust 59 percent rise in automation segment revenue. This sharp revenue increase, coupled with a modest rise in operating expenses, led to a remarkable 95 percent jump in operating profit. Profit before tax surged 113 percent, while profit after tax soared by 197 percent.

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