The shares of one of the leading textile manufacturers gained 3.5 percent to Rs 146.85 per share on Tuesday following the release of pledge shares held by the promoter.
On Tuesday, Mafatlal Industries Ltd shares closed at Rs 143 per share, up 0.80 percent from the previous close price. The company has a market capitalization of Rs 1,011 crore.
According to the company’s exchange filing, Mr. Hrishikesh Mafatlal, the company’s promoter and chairman, released the 18,68,935 equity shares he had under the pledge category, which amounted to 2.64 percent of the promoter holding.
Mafatlal Industries shares have delivered a multibagger return of 184 percent in the last six months and 101 percent in a year. If shareholder investment of Rs 1 lakh in the company would be worth Rs 2.84 in six months and Rs 2.01 in a year.
The company has reported a net profit margin of 2.73 percent and an operational margin of 4.23 percent in recent fiscal years. Similarly, the return on equity stands at 6.05 percent, and the return on capital employed at 8.78 percent.
The company’s revenue has declined by 13 percent yearly, from Rs 354 crore in Q2FY23 to Rs 308 crore in Q2FY24. In the same timeframe, Net profit has significantly increased by 150 percent from Rs 8 crore to Rs 20 crore.
According to the latest shareholding pattern, the company promoters hold a 70.74 percent stake, while Domestic institutional investors hold 2.16 percent of the company, while retail investors hold a 26.2 percent stake in the company.
Mafatlal Industries is engaged in textile manufacturing and trading, the company has its manufacturing units at Nadiad and Navsari. And the company is also in the textile business.
Written by Omkar Chitnis
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