Dolly Khanna’s portfolio multibagger stock announces stellar quarterly and half-yearly results with 60 per cent jump in net profit after bonus shares!
The stock gave multibagger returns of 121 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.
Tinna Rubber and Infrastructure Limited (BSE: 530475), India’s largest integrated waste tyre recycler, announced its Quarterly Results and half-yearly results for the fiscal year 2024. Here are the details:
Quarterly Results: The net sales increased by 21.09 per cent to Rs 79.85 crore, operating profit increased by 29.2 per cent to Rs 13.15 crore and net profit increased by 60 per cent to Rs 7.27 crore in Q2FY24 compared to Q2FY23.
Half-yearly Results: The net sales increased by 8.27 per cent to Rs 160.32 crore, operating profit increased by 14.1 per cent to Rs 25.27 crore and net profit increased by 30.85 per cent to Rs 13.84 crore in H1FY24 compared to H1FY23.
Business Expansion: The company is investing heavily in capacity expansion and the international market. They are building a new plant in Maharashtra and have placed orders for machinery to manufacture Thermo Plastic Elastomers at their existing plant in Panipat, India. They have also recently set up a plant in Oman, their first overseas venture, and have commenced trial production there. The company is also focused on expanding its PCR recycling capacity and exploring opportunities in the international market.
Earlier, the company allotted bonus issue of shares in the ratio 1:1 i.e., 1 new fully paid-up equity share of Rs 10 each for every 1 existing fully paid-up equity share of Rs 10 each with ex-traded on September 15, 2023.
As of September 2023, an ace investor, Dolly Khanna owns a 1.30 per cent stake in the company.
On Friday, shares of Tinna Rubber and Infrastructure Ltd plunged 1.78 per cent to Rs 434.10 per share from its previous closing of Rs 441.95 with an intraday high of Rs 448.35 and an intraday low of Rs 420. The company has a market cap of Rs 744 crore with an ROE of 24.4 per cent and an ROCE of 23.6 per cent.
The stock gave multibagger returns of 121 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent. Investors should keep an eye on this micro-cap stock under their watchlist.
Disclaimer: The article is for informational purposes only and not investment advice.
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