Ace investor Mukul Agarwal's multibagger stock rallies over 4 per cent: Market-cap crosses Rs 10,000 crore mark!
The company has provided multibagger returns of over 123 per cent in the past year.
On July 10, 2023, the shares of CEAT Limited soared 4.40 per cent. The stock reached a new 52-week high of Rs 2640 per share on BSE, reflecting the strong momentum and investor interest in the company. The current market capitalisation of the company is Rs 10,121.22 crore.
As the market concluded, both the Sensex and Nifty recorded gains, with the Sensex trading higher by 0.26 per cent and the Nifty up by 0.28 per cent.
Company profile:
CEAT, founded in 1958, stands as a prominent tire manufacturer and ranks among the rapidly expanding tire companies in India. Notably, CEAT secured the 35th position among India's top 100 companies to work for, as recognized by the esteemed Great Place to Work Institute in 2020. Additionally, the company received accolades for its excellence within the auto and auto component industry category, further solidifying its reputation as one of the finest in its field.
CEAT Ltd showcased a robust financial performance in both Q4FY23 and FY23. In Q4FY23, the company achieved the revenue growth of 10.91 per cent, with total revenue reaching Rs 2,875 crore. The operating profit witnessed an impressive surge of 95.74 per cent to Rs 368 crore, and the profit after tax (PAT) soared by a remarkable 428 per cent to Rs 132 crore.
Similarly, for FY23, CEAT Ltd reported a strong performance, with total revenue amounting to Rs 11,315 crore, an increase of 20.84 per cent compared to FY22. The operating profit stood at Rs 974 crore, witnessed a rise of 35 per cent. Moreover, the net profit showed remarkable growth, surging by 156.33 per cent to Rs 182 crore compared to FY22.
The company has consistently maintained a commendable dividend payout ratio of 20.0 per cent, demonstrating its commitment to providing shareholders with a healthy return on their investment.
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Further looking at shareholding pattern, the shark investor Mukul Mahavir Agrawal holds a significant stake of 1.24 per cent in the company, reflecting his confidence and strategic investment in its prospects.
The company has provided multibagger returns of over 123 per cent in the past year, while the stock has surged by over 179 per cent in the last three years. investors to keep an eye on this trending stock.