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Aluminium Extrusion Industries PLC (NGX: ALEX)

Updated 3 May 2022
Aluminium Extrusion Industries PLC

What is Aluminium Extrusion Industries PLC?

Aluminium Extrusion Industries PLC is a Nigerian company that traces its history to 1982 and is a company that is involved in the manufacturing and sale of aluminium profiles, billets, and roofing sheets.

Aluminium Extrusion Industries PLC’s product portfolio can be divided into two main business segments namely:

  • Extruded aluminium profiles in Owerri and Suleja
  • Aluminium roofing sheets in Owerri

In addition to this, Aluminium Extrusion Industries PLC also runs an extruded aluminium plant along with a powder-coating and aluminium roof sheeting plant, in addition to several other diverse facilities.

Aluminium Extrusion Industries PLC sells finished products along with an extensive portfolio of by-products in Nigeria’s domestic market. Aluminium Extrusion Industries PLC’s parent company is Tower Aluminium (Nigeria) PLC, and its equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol ALEX.

Today, Aluminium Extrusion Industries PLC is headquartered in Inyishi Ikeduru, and its executive leadership consists of Pascal Gabriel Dozie as the Non-Executive Chairman, Veeraraghavan Ganesh as the Managing Director and Executive Director, and several members.

Aluminium Extrusion Industries PLC Performance

The current share price for Aluminium Extrusion Industries PLC stocks is 7.20 NGN [2021/09/15] and the company has a total market capitalization of 1.58 billion NGN, with a P/E ratio of 20.57 NGN and earnings per share of 0.35 NGN, and a total of 220 million shares outstanding.

A financial analysis on the financial performance data for Aluminium Extrusion Industries PLC during the second quarter of 2021, which ended in June, indicates that the company achieved profits of 99.89 million NGN, revenues to the value of 682.10 million NGN, and an operating income of 50.95 million NGN.

Aluminium Extrusion Industries PLC achieved net income after tax deductions of 34.17 million NGN and diluted net income of 34.17 million NGN. The diluted EPS, excluding ExtraOrd items, was 0.16 NGN with diluted normalized EPS for the period was 0.16 NGN.

Aluminium Extrusion Industries PLC showed consistent profits, income, and revenue, and sustained performance during the second quarter, which means that investors who want to buy or sell ALEX stocks can be assured of lucrative dividends and earnings in quarters to come.

An analysis on the live chart of ALEX allowed analysts to forecast further improved performance with the continued return to pre-pandemic economic activity levels in Nigeria as demands increase across the region.

Aluminium Extrusion Industries PLC is well-known as one of few profile manufacturing plants in the region that is involved with the entire process from production to post-extrusion treatments, in addition to surface finishing that involves anodizing and powder-coating.

This unique approach allows Aluminium Extrusion Industries PLC full control over the quality of products from metal composition right through to the sale of finished products on the market.

Highlights of Aluminium Extrusion Industries PLC in 2021

Aluminium Extrusion Industries PLC started the year with a share price of 8.10 NGN, but it has since lost 11.1% in value on this price valuation, subsequently ranking it 124th on the NGX in terms of year-to-date performance.

However, Aluminium Extrusion Industries PLC is the 125th most-traded stock on the NGX. During the past three months, ALEX stocks achieved impressive trading volumes of 19,139 shares which were closed in 19 deals.

This trading volume was to the value of 130,307 NGN over the period and there was an average of 304 shares traded in each session. During the same session, ALEX stocks experienced a volume high of 11,666 in July for these three months.

In August, the Nigerian Exchange Group announced that all companies with a listing on NGX should have certain amounts of issued capital available to be used for trading at any point. This would allow these companies to leverage their market capitalization, helping them remain within the regulatory threshold on any given trading day.

This rule was implemented to allow liquidity in the stock market. It also helped to guard against price distortions that could be derived from a limited supply of stocks. These supply constraints were specifically attributed to constraints caused by promotors along with major shareholders of listed companies refusing to dilute holdings, allowing for a certain number of shares to enter the public.

Aluminium Extrusion Industries PLC was one of these companies that recorded free float deficiencies of 257.6 million NGN. Compliance with this rule can be done either by the percentage of total shares in the hands of the public or according to the value of the free-float.

How to buy Aluminium Extrusion Industries PLC stocks Step-by-step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participation daily. To buy, sell or trade ALEX stocks, traders and investors can follow these simple steps:

  • Find the share that you want to purchase, in this case, “ALEX”.
  • Select a forex broker that offers access to the Nigerian Stock Exchange(NGX).
  • Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading
  • Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading
  • Make your first share purchase through the broker.
  • Build and diversify your portfolio when you buy more shares.

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