During Monday’s trading session, the shares of a micro-cap stock hit a 20 percent upper circuit to reach a new 52-week high at Rs. 298 on BSE, after the company’s Board announced a record date for a 1:5 stock split and approved proposed expansion plans.
With a market cap of Rs. 617 crores, at 02:45 p.m., the shares of Premier Polyfilm Limited were trading in the green at Rs. 291.3, up by 17.3 percent, compared to its previous closing price of Rs. 248.35.
What’s the news:
According to the latest regulatory filings with the stock exchanges, the Board of Premier Polyfilm Limited has fixed 5th November as the Record date for the sub-division or split of the existing equity shares of the company in a 1:5 ratio, following shareholders approval on 16th September 2024.
Additionally, the Board has considered and approved the purchase of industrial land for future expansion activities in the state of Tamil Nadu.
Financials:
The fluctuations in the share prices were also observed after Premier Polyfilm Limited announced the financial results for Q2 FY25, through the recent filings with the stock exchanges on Monday during market hours.
In Q2 FY25, the revenue from operations reached Rs. 78.7 crores, reflecting a growth of around 12.4 percent QoQ from Rs. 70 crores in Q1 FY25, and a nearly 3.6 percent rise year-on-year from Rs. 76 crores in Q2 FY24.
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Furthermore, Premier Polyfilm experienced an increase in net profit by 57.2 percent YoY, reaching Rs. 7.86 crores in Q2 FY25, compared to Rs. 5 crores in Q2 FY24. On a quarter-on-quarter basis, net profit increased by 33.7 percent from Rs. 5.88 crores in Q1 FY25.
Stock Performance
The stock has delivered multibagger returns of nearly 108.3 percent in one year, and around 63.3 percent of positive returns in the last six months. So far in 2024, the shares of Premier Polyfilm have given about 86.3 percent of positive returns.
About the company:
Incorporated in 1992, Premier Polyfilm Limited is engaged in the business
of manufacturing vinyl flooring, sheeting and artificial leather cloth, which are used for a variety of industrial and consumer applications.
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Written by Shivani Singh
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