The shares of this microcap stock Jumped 4 percent despite HDFC Mutual Fund via HDFC Small Cap Fund sold a 1.34 percent equity share in the company.
With a market capitalization of Rs 221.28 crore, the shares of Oriental Carbon & Chemicals Ltd were trading at Rs 221.50 per share, increasing around 1.12 percent as compared to the previous closing price of Rs 219.05 apiece.
As of March 2024, HDFC mutual fund holds 9.26 lakh equity shares which is equivalent to 9.27 percent of Oriental Carbon & Chemicals Ltd however, HDFC Mutual Fund via HDFC Small Cap Fund sold a 1.33 lakh equity share which represents 1.34 percent of the company at an average price of Rs 219.41 per share. The transaction is valued at Rs 2.9 crore.
Examining the company’s financial performance, revenue jumped by 2 percent from Rs 122 crore in Q4FY23 to Rs 124 in Q4FY24, however during the same period of time, net profit magnified by 7 percent from Rs 14 crore to Rs 15 crore.
The company is a market leader in the production of insoluble sulphur with a 60 percent domestic share and 10 percent global market share, the company is continuously expanding its capacities of Insoluble Sulphur is taken place from 3,000 MT in 1994 to 39,500 MT* currently.
OCCL now maintains three manufacturing facilities, two at the Dharuhera Industrial Unit in Haryana and one at the Mundra SEZ in Gujarat. The company’s production portfolio comprises insoluble sulphur (IS), sulphuric acid, and oleum, with an annual production capacity of 39,500 MTPA for IS and 88,200 MTPA for sulphuric acid and oleum.
The business is now carrying out a capital investment program intended to increase its IS capacity at Dharuhera by 11,000 MTPA, with 5,500 MTPA already operational in December 2021. Additionally, it intends to increase sulphuric acid capacity by 42,000 MTPA.
Oriental Carbon & Chemicals Limited is an India-based corporation that manufactures insoluble sulfur. Chemicals and Investments are among the company’s business segments. The Company’s insoluble sulfur is available in ordinary, high-stability, and special grades.
Written by:- Abhishek Singh
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