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Chemical Stock that is engaged in the manufacturing, trading, and exporting of Dyes and chemicals hits 2 percent upper circuit in the day’s trade after it received an order worth Rs. 4.16 Crore. 

In the day’s trade, the shares of Mahickra Chemicals Limited hit a 2 percent upper circuit at Rs. 99.70 and its market capitalization is Rs. 81 Crores. 

As per the company’s filing on NSE, Mahickra Chemicals Limited has received an export order amounting to Rs. 4,16,85,000 ( Four Crore sixteen lakh and eighty-five thousand). 

In the impending handful of years, Mahickra Chemicals Limited intends to generate 100 billion in annual revenue solely from exports. Its strategic outlook revolves around diversifying our product portfolio, expanding into new market segments, and establishing strong partnerships to further enhance our global presence. 

The company’s revenue from operations grew 0.71 percent from Rs. 102.28 Crores in FY22 to Rs. 103.01 Crores in FY23, accompanied by profits of Rs. 3.35 Crore to Rs. 3.28 Crore. 

It has reported a return on equity (ROE) of 10.9 percent and a return on capital employed (ROCE) of 13.7 percent, it is making decent returns on its equity and capital employed as its revenue is increasing at a very slow pace. 

According to the latest shareholding data available for the September 2023 quarter, the Promoters of the company hold 53.84 percent stake, the Foreign Institutional Investors (FII) hold 0.00 percent and the Domestic Institutional Investors hold 0.59 percent. 

Mahickra Chemicals Limited is engaged in the manufacturing, trading, and exporting of Dyes and chemicals. It serves to various markets like Sri Lanka, Bangladesh, Pakistan, Zimbabwe, USA, and many more. In the impending handful of years, it intends to generate 100 billion annual revenue solely from exports 

Written by: Bharath K.S