With a market capitalization of Rs 1,590 crores, the shares of Heranba Industries Limited started its trading session today at Rs 354.35 and currently trades at Rs 397. The scrip witnessed an intra-day high of Rs 411.95, indicating a surge of around 16 percent as compared to the previous closing price of Rs 355.50.
Last month, the company received an order issued by the Gujarat Pollution Control Board (GPCB) along with instructions to close operations at its Vapi Plant. With regards to the same, the company, in a regulatory filing with the exchange today, gave an update that the GPCB has revoked the same order which led to positive sentiments in the markets.
Heranba Industries Limited is engaged in the business of manufacturing crop protection chemicals. It produces synthetic compounds like deltamethrin, cypermethrin, and many others. The company sells its products within India as well as in other countries.
The consolidated financial reports recently published by the company portray an operating revenue of Rs 260 crores in Q4FY22-23, down from Rs 276 crores of revenues in the previous quarter.
Moreover, the net profit numbers took a downshift moving from Rs 12.63 crores during Q3FY22-23 to Rs 11.15 crores in Q4FY22-23. The company possesses a decent debt-to-equity ratio which is within the desired limits of 0.11 times.
The company’s Board approved the payment of the Final dividend of Rs 1.25 per equity share (12.5 percent of its Face Value) for FY22-23. It also intimated about August 17th, 2023 being the record date for the same.
Written by Amit Madnani
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