High ROE & High ROCE multibagger stock: This chemical company has commissioned and capitalised a project worth Rs 116 crore!
The stock gave 7 per cent returns in 6 months, 14 per cent in 1 year and over 105 per cent in 2 years.
SRF Ltd, a leading chemical company, announced that The Board has approval for a project for dedicated facilities to produce intermediates for Agrochemicals in the New Plant Structure at Dahej. The project has been commissioned and capitalized on May 12, 2023 at an aggregate cost of Rs 116 crore (approx.).
Recently, the company reported excellent performance in both Quarterly Results (Q4) and annual results (FY23). In Q4FY23, the net sales rose by 6 per cent to Rs 3,778 crore compared to Q4FY22. The net sales increased by 20 per cent and the net profit increased by 15 per cent in FY23 over FY22.
Established in 1970, SRF Limited is a chemical-based multi-business entity engaged in the manufacturing of industrial and speciality intermediates.
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Today, shares of SRF Ltd surged 0.48per cent to a day's high of Rs 2,564.05 from its previous closing of Rs 2,552.10. At 03:00 pm, the shares of the company were trading in red, down 0.12 per cent to Rs 2,549.
The stock has a ROE of 25 per cent and a ROCE of 23 per cent. The stock gave 7 per cent returns in 6 months, 14 per cent in 1 year and over 105 per cent in 2 years.
Investors should keep an eye on this multibagger stock under the radar.