The shares of one of the leading manufacturer and exporter of various kinds of Petroleum specialties in spotlight, upon receiving an order for procurement of Base Oil from Indian Oil Corporation Limited.
At 3:15 p.m the shares of Panama Petrochem Limited were trading at Rs. 333.60, up 0.80 percent from its previous day’s close price of Rs. 330.95 and its market capitalization is Rs. 2,000 Crores.
Panama Petrochem Limited has received a Letter of Acceptance worth Rs. 22.30 Crores against Tender, from Indian Oil Corporation Limited for the procurement of Base Oil.
Panama Petrochem Limited is engaged in the business of manufacturing and exporting various kinds of Petroleum specialties and products.
Its revenue from operations grew 5.46 percent from Rs. 2,132 Crores in FY22 to Rs. 2,249 Crores in FY23, accompanied by increasing net profits of Rs. 230 Crores to Rs. 233 Crores.
It has reported a return on equity (ROE) of 27.1 percent and a return on capital employed (ROCE) of 34.9 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 67.30 percent stake, the Domestic Institutional Investors hold 0.01 percent and the Foreign Institutional Investors (FII) hold 8.31 percent.
Written by: Bharath K.S
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