The shares of Madhya Bharat Agro Products Ltd gained as much as 1.6 per cent in the early hours of Monday. In the past 3 months, the stock has gained approximately 16 per cent.
Madhya Bharat Agro Products Limited (MBAPL), part of the Ostwal group, is a leader in the production of Beneficiated Rock Phosphate (BRP), single super phosphate, DAP/NPK complex fertilizers, potash, prom for agricultural purposes, Sulphuric acid, and other important chemicals.
The shares of the company have risen from Rs 91 apiece in January to the current levels logging a multibagger return of 425 per cent in just 11 months.
If an investor had invested Rs 1 lakh in the shares of the company in January their investment would be worth Rs 5.25 lakhs today.
In Q2FY23, the company’s total revenue stood at Rs 248 Crore, an increase of 189 per cent from Rs 86 crore in the same quarter of the previous year. In the march quarter, their revenue stood at Rs 213 Crore.
Their net profit in the period grew by 256 per cent at Rs 32 crore up from Rs 9 crore in Q2FY22. On a sequential basis, their net profit was Rs 28 crore.
The small-cap company has a market capitalization of Rs 2,045 Crore and a dividend yield of 0.11 per cent as of November 21st, 2022. The promoters of the company hold a 74.42 per cent stake and have pledged zero shares.
Written by Anoushka Roy
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