Ashish Kacholia Holds 4 Per Cent Stake: Petrochemicals Manufacturer Enters Into Supply Agreement Worth Rs 255 Crore with HPCL

The stock is up by 60 per cent from its 52-week low of Rs 770.95 per share and gave multibagger returns of over 1,100 per cent in 5 years.

Agarwal Industrial Corporation Limited (AICL) has secured a significant contract with Hindustan Petroleum Corporation Limited (HPCL). The agreement entails the supply of Bulk Bitumen - VG30 & VG40, adhering to the standards outlined in IS 73-2013. The bitumen will be sourced from AICL's Taloja Unit and delivered to HPCL as per their specific requirements.

This strategic partnership is poised to bolster AICL's position in the bitumen market. The initial contract duration is set for one year, with a potential extension of another year at HPCL's discretion. The estimated total value of the bitumen to be supplied is approximately Rs 255 crore. This development underscores AICL's commitment to delivering high-quality products and services to its esteemed clientele.

Agarwal Industrial Corporation Ltd. is a diversified company primarily focused on infrastructure and energy sectors. Their core business involves manufacturing and trading bitumen and allied products, which are crucial for various infrastructure projects. The company also provides logistics services for bulk bitumen and LPG transportation through its specialized tankers. Additionally, they generate clean energy through wind power, contributing to sustainable development.

An ace investor, Ashish Kacholia owns a 4 per cent stake in the company. The company has a market cap of Rs 1,820 crore and has delivered good profit growth of 51.7 per cent CAGR over the last 5 years. The stock is up by 60 per cent from its 52-week low of Rs 770.95 per share and gave multibagger returns of over 1,100 per cent in 5 years. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.