Share price of micro-cap logistics stock moved up by 4.32 percent to hit an intraday high at Rs. 108.5 on the NSE in the trading session of Monday, after announcing the commencement of commercial production at a new plant in Maharashtra.
With a market capitalisation of Rs. 154.4 crores, at 03:11 p.m. the shares of Ducol Organics and Colours Limited were trading in the green at Rs. 106.2, up by 2.12 percent, compared to its previous closing price of Rs. 104.
According to the recent regulatory filings with the NSE, Ducol Organics & Colours Limited has started commercial production at its new plant, located in Mahad, Maharashtra.
With this strategic expansion, the plant will increase capacities for already existing dry dispersion and introduce a new line of universal strainers.
The plant has the capacity for multiple production lines, and the first line of production for dry dispersion and bottling of universal strainer has gone into commercialisation.
In terms of financials, the company’s revenue from operations fell by around 15.4 percent from Rs. 44.42 crore in Q2 FY22-23 to Rs. 37.57 crore in Q2 FY23-24. The net profit of Ducol also decreased by 54.3 percent, from Rs. 3.96 crore in Q2 FY22-23 to Rs. 1.81 crore in Q2 FY23-24.
The return on capital employed (ROCE) stood at 15.96 percent in FY22-23, while the return on equity (RoE) was 10.28 percent during the same financial year.
As of March 2024, the Promoters’ holdings and Public holdings have remained unchanged at 57.38 percent and 42.62 percent, respectively, since March 2023.
Ducol Organics and Colours offers a wide range of pigment dispersions and colour solutions for various industries like paints, inks, textiles, detergents, paper, rubber, plastics and FMCG.
The company is engaged in the business of manufacturing and selling of pigment dispersions, preparations, concentrates, paste colourants and master batches with three manufacturing facilities located in Maharashtra.
Written by Shivani Singh
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