Specialty stock held by Ramesh Damani, engaged in manufacturing Specialty Chemicals, Intermediates & API hit a 5 percent upper circuit in the day’s trade upon receiving a new work order worth Rs. 5.9 Crores.
Price Action
With a market capitalization of Rs. 91.27 Crores, the shares of Vadivarhe Specialty Chemicals Limited hit a 5 percent upper circuit in the day’s trade at Rs. 71.40 per equity share, from its previous day’s close price of Rs. 68.
What Happened
Vadivarhe Specialty Chemicals Limited has received new work orders from multiple parties i.e., Siddeshwar Traders, Across Labs LLP, and OM Agencies for the the supply of Specialty chemicals for a consideration of Rs. 5.9 Crores and it is to be executed within one month.
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About the Company
Vadivarhe Speciality Chemicals Limited is engaged in the business of manufacturing all types of organic chemicals, inorganic chemicals, bio-chemicals, specialty chemicals, bulk drugs, drug intermediaries, and active pharmaceutical ingredients and provides related services.
Ace Investor Holding
As of Q1FY25 Ace Investor Ramesh Damani holds a 1.48 percent stake consisting of 1.89 Lakh shares in Vadivarhe Specialty Chemicals Limited. He made a fresh position in the company in March 2022 by purchasing a 1.48 percent stake consisting of 1.89 Lakh shares.
Also read: Stock hits upper circuit after it receives order from Canada for 2,000 lab grown diamonds
Financials & Ratios
Its revenue from operations declined by 8.24 percent from Rs. 43.68 Crores in FY23 to Rs. 40.08 Crores in FY24, accompanied by profits of Rs. 1.15 Crores to Rs. 6 Lakhs.
In terms of Return ratios, it has reported a return on equity (ROE) of 0.93 percent, and a return on capital employed (ROCE) of 8.36 percent. It has reported a very high debt-to-equity ratio of 4.03
Written by: Bharath K.S
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