During Tuesday’s trading session, the shares of a micro-cap stock surged 4.06 percent to hit a new 52-week high at Rs. 445 on BSE, after the company secured an annual contract from Maharashtra State Road Transport Corporation (MSRTC).
With a market capitalisation of Rs. 255.3 crores, the shares of Gayatri Rubbers And Chemicals Limited opened at Rs. 427, as against its previous closing price of Rs. 427.65.
What’s the News:
According to the latest regulatory filings with the NSE, Gayatri Rubbers and Chemicals Limited has secured an Annual Contract from the Maharashtra State Road Transport Corporation (MSRTC) for the supply of ‘Re-inforced Rubberised Packing.’
The company will supply this material for the next one year, from 23rd September 2024 to 22nd September 2025, as needed during the contractual period.
Financials:
The company experienced marginal growth in its revenue from operations, showing a year-on-year rise of around 10 percent from Rs. 22.2 crores in FY23 to Rs. 24.4 crores in FY24.
Further, the net profit of Gayatri Rubbers increased during the same period from Rs. 0.91 crores to Rs. 1.6 crores, indicating a growth of nearly 75.8 percent YoY.
About the Company:
Incorporated in 2022, Gayatri Rubbers and Chemicals Limited is engaged in the manufacturing and trading of rubber products, and is a public limited company listed on the National Stock Exchange (SME Platform) with its registered office in Faridabad, Haryana.
The company manufactures and distributes all types of reclaimed rubber and all kinds of rubber products, by-products, rubber chemicals, rubber processing, latex and all types of rubber scrap products and goods for commercial and industrial purposes etc.
Written by Shivani Singh
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