The shares of the leading plastic blow-molded manufacturer gained up to 3 percent after the company announced the capacity expansion worth Rs 206.50 lakhs.
With a market capitalization of Rs 207.12 crore, the shares of Mitsu Chem Plast Ltd were trading at Rs 152.50 per share, increasing around 2 percent as compared to the previous closing price of Rs 149.90 apiece.
According to the company filing, Mitsu Chem Plast Ltd has announced a capacity expansion of up to 1800 million tons, the company has 26,206 million tons of existing capacity out of which 70 percent is in utilization. The purpose of Capacity Addition For Sustaining Growth, Meeting Market Demand, And Exceeding Customer Expectations.
Looking into the company’s finances, Mitsu Chem Plast Ltd’s revenue increased by 2.5 percent from Rs 71.64 Crore in Q3FY23 to 73.47 Crore in Q3FY24. During the same period, net profits increased by 46 percent from Rs 1.81 crore to Rs 2.64 crore.
The company’s profitability measures show a decline in return on equity (RoE) from 25.40 percent in FY 21-22 to 20.82 percent in FY 22-23, while, during the same period return on capital employed (RoCE) increased from 19.77 percent to 16.67 percent. In contrast, the net profit margin (NPM) was 3.82 percent in fiscal year 22-23.
In the company’s recent shareholding pattern, promoters own 67.75 percent while Retail shareholders own a 32.25 percent stake in the company and domestic Institutional Investors own a 0 percent stake.
Mitsu Chem offers a wide range of molded products to help our customers protect and transport their valuable goods. From custom-designed packaging to off-the-shelf solutions, we have the expertise and resources to meet your specific needs.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
