360 per cent jump in net profit: Penny stock under Rs 15 hit upper circuit on stellar quarterly results; do you own it?
The stock is up by 22.11 per cent in 6 months and 36.03 per cent on YTD basis.
Hindusthan National Glass & Industries Ltd, a leading manufacturer of container glass, announced its Quarterly Results which ended June 30, 2023. Details below:
Standalone Financial Highlights for the Q1FY24:
- Total Revenue stood at Rs 701 crore, up 6.01 per cent over Q4FY23.
- EBITDA stood at Rs 91 crore, up 68.52 per cent over Q4FY23.
- Profit After Tax stood at Rs 87 crore, up 360 per cent over Q4FY23.
- The EPS for Q1FY24 is Rs 9.72.
The Company is a market leader in the container glass industry with over 40 per cent market share in India. It manufactures glass containers for liquor, beer, pharmaceuticals, processed food, cosmetics and household segments. It serves three colours in container glass - Amber, Green & Flint and sizes ranging from 3 ml to 2000 ml capacity.
The company has a market cap of Rs 106 crore and the debtor days have improved from 57.1 to 44.5 days. According to the shareholding pattern, the promoters of the company own 70.72 per cent stake and the rest is owned by the general public which is 29.28 per cent.
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On Wednesday, one of the gainers on BSE, shares of Hindusthan National Glass & Industries Ltd surged and locked in a 5 per cent upper circuit to Rs 11.93 per share from its previous closing of Rs 11.37. The stock’s 52-week high is Rs 14.75 per share and a 52-week low is Rs 7.55 per share.
The stock is up by 22.11 per cent in 6 months and 36.03 per cent on YTD basis. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.