Shares of this Ashish Kacholia stock jumped 3 percent in Wednesday’s trading session after the company intimated about its Promoter Group Entities releasing their Pledged equity shares. In the past year, the company’s stock has gained over 60 percent for its holders.
With a market capitalization of Rs 2,298.65 crores, the stocks of Xpro India Limited opened their trading hour on Wednesday at Rs 1,110.50 and currently trade at Rs 1,111.95. The company’s stock witnessed an intra-day high price of Rs 1,118 indicating a gain of around 3 percent compared to the previous close of Rs 1,086.30 apiece.
Such bullish stock price movements were observed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about a couple of Promoter Group Entities, i.e., “iPro Capital Limited” and “Birla Holdings Limited”, releasing their pledged equity shares on 26th March 2024 in favor of State Bank of India.
Firstly, iPro Capital Limited released around 10.80 lakh pledged shares which the entity kept as collateral for the company’s loans. Moreover, Birla Holdings Limited released around 2.50 lakh pledged shares which the entity kept for the same purpose. Post the release of the encumbered shares, both entities have ‘nil’ equity shares pledged.
Mr. Ashish Kacholia, one of the well-known ace investors based in India, has invested in the small-cap Packaging company. He took an entry by way of subscription to the company’s shares in September 2021 and currently, as per the latest shareholding data available, he holds approximately 8.09 lakh equity shares equivalent to a 3.67 percent stake.
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, showed movements in opposing directions with the former, on one end, falling from Rs 110 crores during Q2FY24 to Rs 96 crores during Q3FY24, and the latter, on the other end, rose from Rs 9 crores to Rs 11 crores.
In addition, the company’s ratio analysis portrays an improvement in the company’s operating margins, rising from 11.36 percent during FY21-22 to 13.06 percent during FY22-23. The return on capital employed (RoCE), too, increased from 22.33 percent to 26.17 percent during the same period.
Xpro India Limited is a company engaged in the business of manufacturing semi-finished plastic products. Its product portfolio includes BOPP Films, Coex Sheets, Dielectric Films, Coex Cast Films, and Thermoformed Liners. Operating solely in India, the company generates revenue from cast films and liners, coextruded sheets, and biaxially oriented films.
Written by Amit Madnani
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