The shares of Jyoti Resins and Adhesives Limited hit an upper circuit of 5 percent at Rs 1,170 levels in the early hours of Tuesday. The scrip gained ahead of the board meeting that is scheduled on February 10th, 2023 to consider and approve the quarterly results of the company.
In Q2FY23, the company reported a total revenue of Rs 65.65 Crore, a 35 percent jump Year on Year from Rs 48.62 Crore. Their net profit in the period stood at Rs 8.82 Crore which doubled compared to Rs 4.34 Crore in Q2FY22.
Jyoti Resins and Adhesives Limited is an India-based company that is engaged in the business of manufacturing synthetic wood adhesives under its brand name EURO7000. It has a presence in 12 states with more than 20 branches in the country.
The shares have risen from Rs 471 a piece in February 2022 to the current levels logging a multibagger return of 149 percent in a year. In an even longer time frame, the stock has delivered a multibagger return of 5,374 percent in 5 years turning an investment of Rs 1 lakh into 54.74 Lakhs.
The small-cap stock has a market capitalization of Rs 1,404 Crore and a dividend yield of 0.64%. The promoters of the company hold a 50.82 percent stake and haven’t pledged any of it while the remaining 49.18 percent stake is held by the public.
Written by Anoushka Roy
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