The shares of this microcap stock engaged in the business of manufacturing irrigation products gained attention on Monday after Apollo Pipes consistently increased its stake in the firm for four straight days.
Price Action
With a market capitalization of Rs 565.18 crore, Kisan Mouldings Ltd fell 4 percent in Monday’s trading session and made an intraday low of Rs 46.51 per share compared to its previous closing price of Rs 48.57 per share. The stock retraced from its day’s low and was trading at Rs 47.3 which is 3 percent lower than the previous closing price.
What Happened
Apollo Pipes has steadily increased its stake in Kisan Mouldings Ltd, acquiring a total stake of 2.01 percent or 24 lakh equity shares worth ~ Rs 11 crore over the last four trading sessions.
The purchases were made on February 11 (6 lakh shares at Rs 43.03 per share), February 12 (6 lakh shares at Rs 43.86 per share), February 13 (6 lakh shares at Rs 50 per share), and February 14 (6 lakh shares at Rs 48 per share), reflecting Apollo Pipes’ growing interest in the microcap company.
Before this acquisition, Apollo pipes already held 784.3 lakh equity shares, representing 65.65 percent stake. This new acquisition likely brings the total to 808.3 lakh shares or 67.66 percent.
Financials
Kisan Mouldings’ sales increased by 6.24 percent year on year from Rs 66.19 crore to Rs 70.32 crore in Q3FY25. On a quarter-on-quarter basis, the sales increased by 37 percent from Rs 51.47 crore. The net profits stood at Rs 0.4 crore compared to a net loss of Rs 16.6 crore in the previous quarter.
Company Overview
Kisan Mouldings Ltd, an Indian company is engaged in the business of manufacturing irrigation products. Their product portfolio consists of PVC (poly vinyl chloride) pipes, fittings and products. These products are utilized for various purposes including cable ducting, tube wells, drinking water, sewage disposal system, irrigation and water management.
Along with this, the company also manufactures custom molded articles and furniture. This includes CPVC plumbing system, free flow UPVC plumbing system and kisan barish rainwater system among many others. The company owns manufacturing facilities all over India where its products are primarily sold.
Written by Shwetha Sairam
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