On Monday 25 September, shares of a real estate development company rose by almost 5% after the company’s Promoter acquired 3.85 lakh shares. Year to date, the company’s stock has gained more than 30 percent. 

The shares of Swadeshi polytex were trading at Rs. 41.26 per share, up 4.99 percent from previous close price of Rs. 39.3. The company has a market capitalization of Rs. 153.27 crore. 

According to company’s exchange filings, one of the company’s Promoter, viz, ‘Paharpur Cooling Towers Limited’ has acquired 3,84,523 shares on 22nd September 2023. Pre acquisition, the above-mentioned Promoter held 16.72 percent, and post acquisition, the holding stands at 17.72 percent. 

Having a walkthrough of the financials reported, the company’s revenue has increased by 22.38 percent yearly, from Rs. 36.23 crore in Q1FY23 to Rs. 44.34 crore in Q1FY24. During the same time period, the company’s net profit increased from Rs. 25.45 crore to Rs. 34.87 crore. As of march 2023, the company’s net profit margin was reported at 78.59 percent. 

According to the shareholding pattern data available for the quarter ended June 2023, the company’s Promoters hold 66.39 percent stake of the company followed by the public holding 33.54 percent of the company. 

Swadeshi polytex is engaged in the business of owning, purchasing, selling, leasing and developing real estate including land, plot, buildings, factories, warehouses, residential, commercial, agricultural and industrial infrastructures. Company also deals in immovable properties and other related assets as owners, advisors, developers, service providers and brokers. 

Written by Vinit Israni


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