IRB Infrastructure Trust’s Year-On-Year Growth
IRB Infrastructure recently reported a significant year-on-year rise of 20% in toll collections for August 2024. The toll revenue surged to Rs. 503 crores compared to Rs. 417 crores in August 2023. This growth underscores the robust momentum of IRB Infrastructure’s expansions and the increasing usage of its toll facilities. The steady rise in toll collections highlights the company’s strategic infrastructure developments and efficient operational management.
Stock News: Sky Gold’s Strategic Investments
Sky Gold has approved a significant investment in its wholly owned subsidiaries, Starmangalsutra Private Limited, and Sparkling Chains Private Limited. The company plans to invest up to Rs. 15 crores in each subsidiary through subscriptions to rights issues, summing up to 12,376 and 11,415 equity shares respectively. These investments aim to bolster the operational capabilities and market presence of the subsidiaries.
Starmangalsutra Private Limited’s Diverse Portfolio
“Star” specialises in the manufacture of mangalsutra jewellery crafted from gold, silver, and other precious materials. The subsidiary’s turnover has grown significantly over the past three financial years, reaching Rs. 200 crores in 2023-24, up from Rs. 130 crores in 2022-23 and Rs. 70 crores in 2021-22. This upward trajectory reflects the company’s expanding market reach and increasing consumer demand for its high-quality products.
Looking Ahead
The recent financial data showcases the sustained growth of IRB Infrastructure and the strategic investments by Sky Gold, indicating a positive future for these companies. The infrastructure developments by IRB, coupled with Sky Gold’s efforts to enhance its subsidiaries, position both entities for continued success and expansion in their respective markets.
