Kriti Industries India Limited, a reputed manufacturer of plastic polymer piping systems, saw its shares open at Rs 94 levels and gain as much as 18 percent to reach an intra-day high of Rs 110.15 levels.
The company is engaged in the manufacturing of premium quality piping products and solutions, accessories, gas pipes, telecom ducts, submersible pipes, and casing pipes which are used in applications of potable water supply, irrigation, building construction, and infrastructure.
It reported total revenue of Rs 256.15 Crore in Q3FY23, an increase of 115 percent Year on Year from Rs 118.89 Crore and a jump of 145 percent Quarter on Quarter from Rs 104.44 Crore.
Their bottom line turned positive after four consecutive quarters of losses. In the period its profits stood at Rs 4.66 Crore which jumped 14 percent YoY from Rs 4.66 Crore. In the previous quarter, their losses stood at Rs 34.44 Crore.
Further, the company has undertaken capex of Rs 30 Crores in the nine months period of FY23, during which it has completed building a full range of SKUs related to Building Products and Column Pipe segments, as it plans to focus aggressively on these segments due to their non-cyclical nature and higher value addition.
The shares of Kriti Industries have gained approximately 28 percent in the past month however on a yearly basis, it has declined by approximately 6 percent. On BSE, the stock has delivered a multi-bagger return of 410 percent as the share price has risen from Rs 20 levels in February 2020 to the current levels.
The small-cap company has a market capitalization of Rs 526 Crore and a dividend yield of 0.19%. The promoters of the company hold a 66.35 percent stake with zero shares pledged while the remaining 33.65 percent is held by the public.
Written by Anoushka Roy
