Shares of the leading adhesives manufacturer marginally gained from its previous close price after the company board announced stock split.
At 10:15 a.m the shares of HP Adhesives Ltd were trading at Rs. 481, up 3 percent from its previous day close price and the market capitalization of the company is 883 Cr.
As, per the company’s filing, HP Adhesives board has approved a stock split in the ratio of 1:5 i.e., 1 equity share of the company with a face value of Rs 10, is going to be split into 5 equity shares with a face value of Rs. 2 and the record date for the stock split is November 9, 2023.
The company’s revenue has increased by 41.56 percent from 164.6 Cr in FY22 to 233 Cr in FY23, accompanied by increasing profits of 6.01 Cr to 10.86 Cr.
The company has reported a return on equity (ROE) of 7.6 percent and return on capital employed (ROCE) of 11.41 percent, this indicates that the company is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 71.35 percent stake, the Domestic Institutional Investors hold 2.09 percent and the Foreign Institutional Investors (FII) hold 0.10 percent.
HP Adhesives Limited is an adhesives and sealants company. The company manufactures and sells a wide range of consumer adhesives, sealants and ancillary products like PVC, cPVC, and uPVC solvent cement, synthetic rubber adhesive, ball valves, thread seals etc.
Written by: Bharath K.S
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