Chemical held by Ashish Kacholia, engaged in the business of manufacturing inorganic fluorine-based chemicals like Hydrofluoric acid, sulphuric acid, potassium Bifluoride, and many more slumps 5 percent in the day’s trade upon declaring mixed Q4FY24 results and recommending a dividend of Rs. 7 per equity share
With a market capitalization of Rs. 2,015 Crores, the shares of Tanfac Industries Limited were trading at Rs. 2,019, down 4.75 percent from its previous day’s close price of Rs. 2,120.45.
Its revenue from operations declined by 11.01 percent YoY from Rs. 115.52 Crores in Q4FY23 to Rs. 102.80 Crores in Q4FY24 and it grew by 17.11 percent QoQ from Rs. 87.78 Crores in Q3FY24 to Rs. 102.80 Crores in Q4FY24. Annually it generated revenue of 374.94 Crores in FY23 and Rs. 378.14 Crores in FY24 indicating a growth of 0.85 percent YoY.
Its Net Profit declined by 43.36 percent YoY from Rs. 22.37 Crores in Q4FY23 to Rs. 12.67 Crores in Q4FY24 and it grew by 25.83 percent QoQ from Rs. 10.07 Crores in Q3FY24 to Rs. 12.67 Crores in Q4FY24.Annually it generated a profit of 56.12 Crores in FY23 and Rs. 52.48 Crores in FY24 indicating a decline of 6.48 percent YoY.
In Addition, the Board of Directors of the company has recommended a Dividend of Rs.7 per Equity Share having a face value of Rs. 10 each for Financial Year 2023-24 held by shareholders of the company as of the record date.
Ace Investor Ashish Kacholia holds a 1.19 percent stake in the company consisting of 1.18 Lakh Equity Shares. He took a fresh holding position in the company in December 2023
Tanfac Industries Limited is engaged in the business of manufacturing inorganic fluorine-based chemicals like Hydrofluoric acid, sulphuric acid, potassium Bifluoride, and many more. It is amongst the leading producers of Hydrofluoric Acid and its derivatives. It has a presence across 12 countries.
It has reported a return on equity (ROE) of 25.3 percent and a return on capital employed (ROCE) of 34.1 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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