Ashish Kacholia Bought 107,500 Shares: This Smallcap Company Awards Contract to Toyo Engineering India for Brownfield Expansion of HIPS Line at Dahej
The company’s shares have delivered an impressive return of over 120 per cent in just 1 year.
Styrenix Performance Materials Limited has awarded a contract to Toyo Engineering India Private Limited for engineering consultancy services related to the brownfield expansion of a new HIPS line at Dahej. This expansion aims to boost the company's total polystyrene capacity to 150 KT per annum. The project is expected to be completed within 7 months from the date of the contract.
Ashish Kacholia, a renowned stock market investor known as the ‘Big Whale of Dalal Street’, via Bengal Finance and Investments Pvt Ltd purchased equity shares of one Small-Cap company on June 27, according to a stock exchange filing. Bengal Finance & Investment Private Limited (Ashish Kacholia) purchased 1,07,500 shares at an average price of Rs 1860 per share on June 27, 2024.
Incorporated in 1973, Styrenix Performance Materials Ltd manufactures, trades, and sells engineering thermoplastics. On Monday Styrenix Performance Materials Ltd shares closed the day at Rs 2670 each on the BSE. The current market capitalization of Styrenix Performance Materials Ltd stands at Rs 4695.36 crore, and the stock has generated an impressive multibagger return of over 120 per cent in just 1 year only.
Financial Performance
As per the Quarterly Results, in the first quarter of FY25, Styrenix Performance Materials Ltd reported a revenue of Rs 699 crore, marking a 28.49 per cent year-on-year growth from Rs 544 crore in Q4 FY23. The operating profit for Q1 FY25 stood at Rs 90 crore, compared to Rs 51 crore in the same quarter of the previous fiscal year. The net profit for Q1 FY25 was Rs 61 crore, compared to Rs 32 crore. Looking at the annual performance, the company generated a revenue of Rs 2222 crore in FY24, compared to Rs 2372 crore in FY23. The operating profit for FY24 was Rs 264 crore, with a net profit of Rs 173 crore.
Investors must keep this small-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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