Specialty chemical stock engaged in the trading of textile printing inks and water-based wood coating polymers hit a 10 percent upper circuit in the day’s trade after India Equity Fund 1 purchased 1.06 equity shares of the firm.
Price Action
With a market capitalization of Rs. 117 Crores, the shares of Silkflex Polymers (India) Limited hit a 10 percent upper circuit in the day’s trade at Rs. 100.65 per equity share, from its previous day’s close price of Rs. 91.50.
What Happened
As per the Bulk/Block deal data available on NSE, INDIA EQUITY FUND 1 has purchased 1.06 Lakh equity shares of Silkflex Polymers (India) Limited at an average price of Rs. 90.50 per equity share.
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About the Company
Silkflex Polymers (India) Limited is primarily involved in the trading of textile printing inks and water-based wood coating polymers. It has a wide range of product portfolio with offerings of more than 108 textile printing ink products and 51 wood coating polymer products.
Financials and Ratios
Its Revenue from operations grew by 34.49 percent YoY from Rs. 44.30 Crores in FY23 to Rs. 59.58 Crores in FY24, accompanied by profits of Rs. 83 Lakhs to Rs. 3.93 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 38.2 percent and a return on capital employed (ROCE) of 27 percent. It has reported a high debt-to-equity ratio of 1.37.
Written by: Bharath K.S
Also Read: Textile stock jumps after mutual funds and FII buy stake in the company for ₹ 457 Cr
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