Shares of this micro-cap stock spiked close to 16 percent in Tuesday’s trading session after the company announced robust results for Q3FY23–24, i.e., for the quarter ended December 2023. In the past five trading sessions, the company’s share price has jumped nearly 25 percent.
With a market capitalization of Rs 702 crores, the stocks of Pudumjee Paper Products Limited started their trading session on Tuesday at Rs 65.69 and closed at Rs 73.90. The company’s shares are inching towards the 52-week high price recorded at Rs 75.90.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 194.97 crores during Q2FY24 to Rs 203.72 crores during Q3FY24, and the after-tax profits, during the same period, rising from Rs 17.64 crores to Rs 31.86 crores.
Moreover, the company, yearly, reported an increase in both metrics mentioned above with the former rising from Rs 181.87 crores during Q3FY23 to Rs 203.72 crores during Q3FY24, and the latter, keeping the timeframe the same, shifted from Rs 12.77 crores to Rs 31.86 crores exhibiting an increase of approximately 150 percent.
Historically, the company has maintained decent return ratios with the return on equity (RoE) reported at 14.96 percent and the return on capital employed (RoCE) reported at 16.04 percent.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 71.31 percent stake, and the Public (retail) investors hold a 28.23 percent stake in the company.
Pudumjee Paper Products Limited is a paper manufacturing company with segments including ‘paper manufacturing’ and ‘hygiene’ products. Having a business presence within as well as outside India, the company’s product range includes facial tissues and napkin tissues among others.
Written by Amit Madnani
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