The shares of Priti International Limited were trading up by 1 percent at Rs 151 levels in the early hours of Wednesday. The stock remained in focus on the trading day after ace investor Porinju Veliyath freshly bought a stake in the company.
Priti International Ltd is an Indian local furniture & lifestyle brand with a wide-ranging furniture and home decor collection from natural, modern, classic, minimalist, to premium. The company exports its products to the USA, Spain, Holland, Turkey, China, and many other destinations.
The company migrated from the SME platform and was listed on NSE at Rs 69.05 a piece in March 2022. From there, it has risen up to the current levels logging a multibagger return of 119 percent in just 11 months.
As per the latest quarterly filing, Porinju Veliyath bought 1,50,000 shares of the company which translates to a 1.29 percent stake in the company with a holding value of Rs 2.3 Crores.
Another famous ace investor, Shankar Sharma, has freshly entered the company as he bought 1,30,000 shares or 1.1 percent stake in the company with a holding value of Rs 2 Crores.
The company is yet to announce its Q3 numbers. In the previous quarter, their total revenue stood at Rs 12.69 Crore which declined Year on Year from Rs 15.83 Crore. Their net profit in the period stood at Rs 1.12 Crore which increased marginally from Rs 1.04 Crore in Q2FY22.
The micro-cap company has a market capitalization of Rs 177 Crores. The promoters hold a 66.77 percent stake in the company and haven’t pledged any shares. In addition to that, the company has zero debt on its balance sheet.
Written by Anoushka Roy
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