The shares of India’s largest garments exporter gained a 4 percent to 52-week high price of Rs 884 a share after Narayana Murthy’s Catamaran Venture Capital bought a 1.12 percent stake in the company.
At 11:11 a.m., Gokaldas Exports Ltd shares were trading at Rs 864.60 on the National Stock Exchange, up 1.69 percent from the previous close price. The company has a market capitalization of Rs 5,244 crore on the stock exchange.
According to the BSE report, Venture capital firm Catamaran Ventures LLP, led by Infosys cofounder NR Narayana Murthy, bought 6,78,003 equity shares up to a 1.12 percent stake in the Gokaldas Exports, for worth over Rs 57 crore (as per October 12 closing price).
The Company’s return on equity increased from 16.53 percent in FY22 to 19.51 percent in FY23, while the return on capital employed rose from 19.16 percent to 22.49 percent during the same period.
Gokaldas Exports revenue has fallen by 16 percent year on year, from Rs 610 crore in Q1FY23 to Rs 514 crore in Q1FY24. During the same year, the company’s net profit has fallen by 18 percent, from Rs 39 crore to Rs 32 crore.
Over the years the company margin has improved with a net profit margin of 7.78 percent and an operating margin of 10.08 percent.
The stock has returned 142 percent in six months and 125 percent in a year. A Rs. 1 lakh investment in the business will be worth Rs. 2.25 lakhs after a year and Rs. 2.42 lakhs after a half-year.
According to the recent shareholding pattern, the company promoters hold 11.06 percent of the company, while Foreign institutional investors hold 16.96 percent and Domestic institutional investors hold 32.68 percent stake.
Gokaldas Exports Limited is engaged in the business of design, manufacture, and sale of garments for international fashion brands and retailers.
Written by Omkar Chitnis
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