Shares of this small-cap Fertilizer stock jumped around 6 percent on Tuesday after the company posted financial results for the quarter ended September 2023. Well-known ace investor Ms. Dolly Khanna has invested in the stocks of this company.
With a market capitalization of Rs 1,294.78 crores, the stocks of Mangalore Chemicals & Fertilizers Limited started their trading session on Tuesday at Rs 113.35 and currently trades at Rs 110, gaining approximately 6 percent as compared to the previous close of Rs 104.30 apiece.
Such bullish sentiments around the stock prices were witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced their financial results for Q2FY24, i.e., for the quarter ended September 2023.
The company, on a sequential basis, reported an increase in the prime business indicators such as operating revenues and net profits with the former increasing from Rs 958 crores during Q1FY23-24 to Rs 1,410 crores during Q2FY3-24, and, the latter, keeping the timeframe the same, moved up from Rs 49 crores to Rs 68 crores.
Moreover, the company, yearly, saw positive movements in the metrics mentioned above with the operating revenues shifting from Rs 283 crores during Q2FY22-23 to Rs 1,410 crores during Q2FY23-24 representing a huge increase of 400 percent, and, the net profits, during the same period, transitioning from a loss of Rs 32 crores to a profit of Rs 68 crores.
Historically, the company has reported a consistent increase in the basic profitability ratios such as the return on equity (RoE) and return on capital employed (RoCE) with the former recently moving from 13.62 percent during FY21-22 to 18.12 percent during FY22-23, and, the latter, during the same period, moving up from 10.54 percent to 13.40 percent.
Ms. Dolly Khanna, one of the well-known ace investors based in India, has invested in the stocks of Mangalore Chemicals & Fertilizers Limited. She took an entry into the company’s stock in March 2021 and currently, as per the September 2023 quarter, holds 14.37 lakh shares equating to a 1.21 percent stake.
According to the shareholding data available for the quarter ended September 2023, the company’s Promoters hold a 60.63 percent stake, and the Foreign Institutional Investors (FIIs) hold a 1.11 percent stake in the company.
Mangalore Chemicals & Fertilizers Limited is a Bengaluru-based company engaged in the business of manufacturing and marketing chemical fertilizers. The company’s product portfolio includes plant nutrition products, nitrogenous & phosphatic fertilizers, sulphuric acid, etc.
Written by Amit Madnani
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