Shares of Rama Vision Ltd were locked at 5% upper circuit on 4 January after the company announced launching a new product that falls under the confectionery food products category.

In its regulatory filing, the company said that they are pleased to announce the launch of its new product, “Wafer Sticks”, under the “MADDOX” brand name and in the confectionery food products category.

In its quarterly report for July-September, the company reported a 13% year-on-year increase in its net profit to Rs 79 lakhs against Rs 70 lakh reported during the same quarter of the previous fiscal year.

The revenue during the quarter saw a 9% YoY increase to Rs 21.96 crore against Rs 20.22 crore reported in the same quarter last year.

According to the latest shareholding pattern, the promoters of the company own a 54.21% stake in the company, whereas retail investors own a 45.74% stake in the company; the remaining 0.05% stake is held by DIIs (domestic institutional investors).

The company was established in 1989, and its headquarters is in Uttarakhand. The company is an importer and distributor of skin care products, baby and mother care products, and food products across India.

The company deals with brands, including Mothercare, Nuby, Pigeon, Mustela, Trisa, Baby Dove, Kimball, Pepsodent, Suave Kids, Delight Nuts and many more.

At 3:30 pm, the shares of Rama Vision closed 4.99% higher at Rs 71.71 on BSE.