On Tuesday the microcap stock rose 5 percent and hit its upper circuit of Rs 264.20 from its previous close of Rs 251.65 after the company announced the promoter’s proposed Offer for sale.
According to the filling of Sejal Glass Ltd, Mr. Chandrakant Vallabhaji Gogri, a part of the promoter group of the company proposed an offer for sale (OFS) of 11 lakh equity shares which is 11.4 percent of the company at the floor price of Rs 225 for non retail investors.
Looking at the finances of Sejal Glass Ltd, the net revenue increased by 241 percent year over year, from Rs 39.6 crore in Q2FY23 to Rs 11.6 crore in Q2FY24. Their revenue rose by 46 percent sequentially from Rs 27.1 crore in Q1FY24 to the current levels.
In addition, the net profit increased by 183 percent year over year, from a net loss of Rs 0.92 crore in Q2FY23 to a net profit of Rs 0.77 crore in Q2FY24. Their revenue fell by 20 percent sequentially from Rs 0.97 crore in Q1FY24 to the current levels.
Sejal Glass Ltd is a microcap stock with a market capitalization of Rs 266 crores. The share price of the company rose 11 percent in the last six months and 3.5 percent year to date.
The company has a low price-to-earnings ratio of 28 compared to its peer companies, it has a net profit margin of 16 percent and the company improved its debtor day from 110 to 81 days.
However, the ratios like return on equity, and a debt-to-equity ratio of the company are negative.
The company’s promoters hold a 90 percent stake in the company and 10 percent owned by the general public.
Sejal Glass Ltd is a company that provides glass solutions. The company has also ventured into the insurance and finance industries. The company’s product line includes Solid Glass, Kool Glass, Tone Glass, Fort Glass, Armor Glass, Decor Glass, Fireban Glass, Fresca, and Lunaro.
Written by Sriram KV
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