The shares of this microcap company hit a 2 percent upper circuit after supplying its product to one of the leading steel plants. In 6 months the share has given a multibagger return of 148 percent to its shareholders.
For example, if someone had invested Rs. 1 lakhs six months ago,then, the worth of those shares would be Rs. 2.48 lakhs now.
With a market capitalization of Rs. 75.46 crores, the share of Chemtech Industrial Valves Ltd (CIVL) started today’s trading session on a higher note. Within a few minutes of the opening bell, the share went to a 2 percent upper circuit at Rs. 67 which is also recorded as the company’s fresh 52-week high price.
Such a positive movement was observed after the company in an exchange filing mentioned that it had successfully Manufactured and supplied DN 2700 MM Goggle Valves to a Leading Integrated Steel Plant in South India.
This Critical Valve has been manufactured for the Isolation of Toxic Blast Furnace and Coke Oven Mixed Gas. The Valve has been supplied with Full Automation Capabilities and CIVL has strong Design Capabilities to Manufacture Goggle Valves for handling Critical Gas Line Applications up to DN 4000 MM.
Digging into the financials, the revenue decreased by 22.41 from Rs. 143 crores during Q2 FY23 to Rs. 101 crores in Q1 FY24. Furthermore, the net profit declined by 36.12 percent from Rs. 4.14 crores to Rs. 3.58 crores during the same timeframe.
Looking at the important financial ratio, the return on equity was at 8.8 percent during FY22-23, and the return on capital employed was recorded at 14.49 percent during the same period.
According to the latest shareholding pattern, Promoters of the company have a 73.21 percent stake in the company and the remaining 26.79 percent is with the Retail Investors.
Headquartered in Mumbai, Chemtech Industrial Valves Ltd was established in the year 1997. The company’s products cater to the Steel, Power, Oil and gas, Water, and fertilizers sectors in India. The Company focuses on Large Diameter Gas Line Valves & is also strongly focused on providing Innovative Solutions that solve End User pain points in various Industrial Sectors.
Written By Vaibhav Patil
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