The shares of glass container maker, which belong to the micro-cap category with a market value of Rs 533 crore, gained 11 percent to a 52-week high price of Rs 103.45 apiece on Friday morning following the company’s strong June quarter financial results.
At 1:28 p.m., Haldyn Glass Ltd shares were trading at Rs 98.99 a share on the National Stock Exchange, up Rs 9.01 or 10.01 percent.
As per exchange filing,Company’s net profit increased by 38 percent to Rs 9.14 crore in Q1FY24 as compared to Rs 6.59 crore in the corresponding quarter of the previous year Q1FY23,while company revenue declined by 4.3 percent to Rs 74.63 crore in the latest quarter as compared from Rs 77.87 crore in same quarter last year.
In comparison to the previous quarter (Q4 FY 22-23), operational revenue slightly grew from 74.27 crore in Q4FY23 to 74.63 crore in Q1FY24, while net profit improved from 6.56 crore to 9.14 crore.
Haldyn Glass Ltd shares have increased from Rs 40.35 to current levels,yielding multibagger returns of 150 percent. As a result, if an investor bought 1 lakh shares of the company in the previous year, their holdings are now worth 2.50 lakhs!
The profitability ratios of Haldyn Glass Ltd have been raised, with the return on equity increasing from 6.34 percent to 10.48 percent and the return on capital employed increasing from 7.75 percent to 12.21 percent, with the firm having a debt-to-equity ratio of 0.23.
As per the current shareholding pattern, the promoters hold 58.14 percent of the company, while retail investors own 41.86 percent stake.
Haldyn Glass Ltd is engaged in the business of manufacturing glass containers and bottles for the Food, Beverages, and Spirit Industries.
Written by Omkar Chitnis
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