Micro-cap stock that is engaged in manufacturing of plastic packaging products soars 7 percent from its previous day close price after it establishes a new manufacturing unit thereby expanding its operations to meet growing demand.
At 12:50 p.m the shares of Clara Industries were trading at Rs. 178.65 up 4.47 percent from its previous day close price and its market capitalization is Rs. 74 Crores.
As per the company’s filing, Clara Industries has established a new manufacturing unit thereby expanding its operations, this accomplishment adds to its current manufacturing unit, making it Unit- II under its current production facilities.
It is designed to enhance its production capacity and improve operational efficiency. The unit is fully equipped with new technology and adheres to the highest standards of quality, safety, and sustainability.
The expansion aligns with its long-term growth strategy and is a significant milestone for the company. This initiative will not only allow it to meet the increasing market demand but also strengthen its position in the industry. The manufacturing unit is expected to become operational from October 25, 2023.
The Company’s revenue grew 266 percent from Rs. 3 Crores in FY22 to Rs. 11 Crores in FY23, accompanied by increasing profits of Rs. 1 Crore to Rs. 3 Crore.
It has reported a return on equity (ROE) of 42.21 percent and a return on capital employed of 58.41 percent, this indicates that the company is making good returns on its equity and capital employed.
Clara Industries was incorporated in 2014 and it is engaged in manufacturing industrial packaging products and supplying it to clients from varied sectors like FMCG, Hospitality, Pharmaceuticals etc.
Written by: Bharath K.S
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.
