Shares of this microcap company jumped around 1 percent in Tuesday’s trading session after receiving a grant for a patent. The shares have delivered a multibagger return of 128 percent to its shareholders in one year.
With a market capitalization of Rs. 621 crores, the shares of Arrow Greentech Ltd started Tuesday’s trading session on a higher note at Rs. 412.80 compared to its previous close of Rs. 410.70. During the trading session, the shares hit a high of Rs. 417.90, gaining around 1 percent and are currently trading at Rs. 412 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had received a grant for a patent for a system and method of preparing a cold water soluble film for delivering heat-sensitive active ingredients for the territory of the India under the provisions of the Indian Patent Act.
Furthermore, the company mentioned that the present invention relates to a water-soluble film, more particularly it relates to a cold water soluble film and the process of preparing such cold water soluble film for and having the capacity to deliver heat-sensitive active ingredients. Moreover, the present patented invention also relates to a method and system for preparing batches of the above-mentioned cold water soluble film.
Coming onto the company’s financial statements, the revenue declined by 14 percent from Rs. 29.12 crores during the September quarter to Rs. 24.91 crores in the December quarter. On the other hand, the net profits decreased by 4 percent from Rs. 5.06 crores to Rs. 4.88 crores during the same timeframe.
As of February 2024, the company has been granted a total of 31 patents across the world across all key business verticals of the paper and packing industry, Security products, Health, Hygiene and Food and Printing and PSA materials. Further, 24 Indian patent applications and 7 foreign patent applications are under process covering various sectors and geographies.
Looking at the important financial ratios, the return on equity showcased a transition from a negative 11.63 percent during FY21-22 to 14.18 percent in FY22-23. In addition, the return on capital employed transformed from a negative 11.99 percent to 21.04 percent during the same period.
Headquartered in Maharashtra, Arrow Greentech was incorporated in 1992. The company is engaged in the business of developing biodegradable (green) products and high-tech products.
Written By Vaibhav Patil
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