This smallcap company has hit the upper circuit of 5% today
Last Updated: 22nd March 2022 - 06:16 pm
Proposed QIP of equity shares fuels the rally.
Gulshan Polyols Ltd, engaged in the business of commodity chemicals, has been trending on Dalal Street as it has rallied by about 5%, thereby hitting the upper circuit from its previous close of Rs 368.85. The share has been trading in the green territory today. The scrip opened at Rs 382 and made a day’s high of Rs 387.25, where the trading in the stock has been halted by the exchange.
Such tremendous reaction has come on the back of the company’s board proposing a qualified institutional placement (QIP) of equity shares of the face value of Rs 1 each on March 21, 2022. The floor price of the issue has been stated at Rs 343.66.
Talking about its recent quarterly results, in Q3FY22, revenue grew by 39.94% YoY to Rs 292.66 crore from Rs 209.13 crore in Q3FY21. On a sequential basis, the top-line was up by 5.55%. PBIDT (Ex OI) was reported at Rs 35.21 crore, down by 3.14% as compared to the year-ago period and the corresponding margin was reported at 12.03%, contracting by 535 basis points YoY. PAT was reported at Rs 19.13 crore, up by 2.84% from Rs 18.61 crore in the same quarter for the previous fiscal year. The PAT margin stood at 6.54% in Q3FY22 contracting from 8.9% in Q3FY21.
Gulshan Polyols Ltd (GPL) was incorporated in the year 1981 with the primary business of manufacturing calcium carbonate. Its business portfolio covers starch sugars, calcium carbonate; alcohol business; agro-based animal feed, and onsite PCC plants. Gulshan Polyols caters to a wide range of industries and niche markets in the core sector encompassing pharmaceuticals, personal care products, footwear, tyres, rubber & plastics, paints, alcohol, value-added paper. agrochemicals, food and agro products.
The stock has a 52-week high of Rs 429 and a 52-week low of Rs 87.10.
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