- Reliance Chemotex Industries Limited has given 174.92% returns in one year as its share price increased from ₹89.50 on 4th March 2021 to ₹246.05 today.
- Its Net profit in the December quarter rose 70.36% to ₹4.31crores from ₹2.53 crores in the same quarter, last year
- The demand for its products is on the rise and it is about to increase its manufacturing capacity.
Reliance Chemotex Industries Limited has given 174.92% returns in one year as its share price increased from ₹89.50 on 4th March 2021 to ₹246.05 today.
The company is a profit-making and dividend-paying company that is engaged in the business of manufacturing blended polyester/viscose yarn. From carpets to awnings and artificial leather to suitings, their yarn has found its way into many products.
Its Net profit in the December quarter rose 70.36% to ₹4.31crores from ₹2.53 crores in the same quarter, last year. It is a small-cap stock with a market capitalization of ₹188 crores and high promoter holdings of 67.68%.
In November 2021, its board approved the proposal for increasing its existing installed capacity by 6250 spindles at its factory in Kanpur, Udaipur. In September 2021 it had 54816 spindles. The proposed capacity after expansion will be approximately 61,056 spindles. The demand for the company’s product has increased rapidly. The investment required for the expansion is ₹53 crores and it will be funded by a mix of loans and internal accruals.
It hit its 52-week high of ₹337.35 on January 10, 2022. It has been falling since then. It fell by 16.78% in the last month and by 1.38% in one day. On Thursday, it closed at ₹246.05 apiece.
