52-week high alert: Heavy buying in this small-cap stock as the company announces stellar results and stock split!
The stock is up by 21 per cent in just 1 month and over 50 per cent in 3 months.
Sigachi Industries Ltd (SIL), one of the largest manufacturers of Microcrystalline Cellulose worldwide announced its Quarterly Results ended June 30, 2023. Details below:
Financial Highlights for the Q1FY23:
- Total Revenue stood at Rs 84.70 crore, up 16.97 per cent over Q4FY23.
- Profit before tax stood at Rs 14.71 crore, up 42.33 per cent over Q4FY23.
- Profit After Tax of Rs 10.86 crore, up 35.55 per cent over Q4FY23.
- The EPS for Q1FY24 is Rs 3.54 whereas in Q4FY23 was Rs 2.38, an increase of 48.74 per cent.
Additionally, the Board of Directors of the company has approved a sub-division/ stock split of the existing 1 (one) Equity Share of the face value of Rs 10 each fully paid up into 10 (Ten) Equity Shares of Rs 1 each fully paid up. The Record Date for the purpose of subdivision of equity shares will be intimated to the Exchanges subsequently, after the approval of the resolution for sub-division by the shareholders at AGM.
Sigachi Industries was incorporated in 1989. It is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The shares of the company have a PE of 20x, an ROE of 18 per cent and a ROCE of 21 per cent.
The company has a market cap of Rs 1,060 and has delivered good profit growth of 44.50 per cent CAGR over the last 5 years. The net sales increased by 20.80 per cent to Rs 302 crore and net profit increased by 10 per cent to Rs 44 crore in FY23 over FY22.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/- Click here to subscribe now
On Thursday, shares of Sigachi Industries plunged 1.66 per cent to Rs 344.50 per share from its previous closing of Rs 350.30 per share with an intraday high of Rs 364 and an intraday low of Rs 335.20. The stock also made a new 52-week high of Rs 364 per share with a spurt in volume by more than 2.52 times on BSE.
The stock is up by 21 per cent in just 1 month and over 50 per cent in 3 months. Investors should keep an eye on this Small-Cap pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.