Largest Manufacturer of Water Soluble Films Reports 143 per cent Profit Growth; This Small-cap Delivered Multibagger Returns
The company reports 143 per cent profit growth, with 52-week returns of 136.76 per cent. Stock trading at Rs 787, nearing overbought.
On Saturday Arrow Greentech Ltd released its Quarterly Results for June 2024.
In the quarterly results for June 2024, revenue increased to Rs 6,516 crore, up by 103.56 per cent year-on-year and 31.00 per cent quarter-on-quarter. Net profit also rose to Rs 2,123 crore, representing a 143.18 per cent increase year-on-year and a 33.61 per cent rise from the previous quarter. For the full fiscal year 2024, revenue grew to Rs 149 crore, reflecting a 36.70 per cent increase from FY23, while net profit increased to Rs 29 crore, showing a growth of 141.67 per cent over the same period. Company has delivered good profit growth of 30 per cent CAGR over last 5 years.
Arrow Greentech Ltd is trading at Rs 787, showing a 7.26 per cent increase from the previous close of Rs 733.7. The stock reached a high of Rs 795 recently and is currently trading close to this peak. With a traded volume of 2.89 lakh shares, there has been a noticeable price movement. The returns from the 52-week low stand at 163.92 per cent and 136.76 per cent of multibagger returns in the year. The RSI is at 78.66, suggesting the stock is nearing an overbought condition.
Earlier, Arrow Greentech was granted the patent in India for its innovation titled "A system and method of preparing a cold water soluble film for delivering heat sensitive active ingredients". The patent was granted on Feb. 20 this year and is valid for 20 years, starting from Jan. 26, 2020, according to a Monday filing.
Incorporated in 1982, Arrow Greentech Ltd is in the business of bio-degradable (green) products, high-tech products and having Patents income for such products /technology
Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.