The shares of the specialty chemical maker rose 5 percent to Rs 1,385 apiece on early trade on Wednesday after Morgan Stanley Asia bought a 1.7 percent stake in the company.
At 1:20 p.m., Ami Organics Ltd shares were trading at Rs 1,316.95 per share, up Rs 0.35 from the previous close price. The company has a market capitalization of Rs 4,798 crore.
According to the bulk data published by the exchanges, On August 29, Morgan Stanley Asia Singapore bought 621,898 equity shares, or 1.7 percent in the company via open market transactions. The shares were bought for Rs 1,250 apiece, for a total transaction value of Rs 77.73 crore. Simultaneously, high-net-worth investor Girishkumar Limbabhai Chovatia sold 6.25 lakh shares of the company for Rs 1,250.39 per share, for a total transaction value of Rs 78.14 crore.
The revenue of Ami Organics Ltd climbed by 8.3 percent year on year, from Rs 131 crore in Q1FY23 to Rs 142 crore in Q1FY24. Net profit climbed by 13 percent within the same time, from Rs 15 crore to Rs 17 crore.
Ami Organics’ share has increased by 45 percent in six months and by 33 percent in a year.
The Company’s profitability ratios improved in the most recent fiscal year, with a return on equity of 14.20 percent and a return on capital employed of 19.21 percent. Similarly, the net profit margin stands at 13.51 percent.
According to the recent shareholding pattern, the promoters hold 39.41 percent of the company, while Foreign institutional investors hold 6.73 percent and domestic institutional investors hold 5.23 percent.
Ami Organics Limited is a prominent maker of specialized chemicals based on research and development. The firm produces a variety of Advanced Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (API) for New Chemical Entities, as well as materials for agrochemicals and fine chemicals.
Written by Omkar Chitnis
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