Mukul Agarwal small-cap stock hits a new 52-week high after reporting quarterly results

12 per cent growth propels small-cap company into the spotlight

On Friday, the shares of Hindware Home Innovation Ltd surged by 7.44 per cent, to hit a new 52-week high of Rs 514.50. The scrip witnessed spurt in volume by more than 2.65 times.    

The consolidated financial results of Hindware Home Innovations Ltd for Q4FY23 exhibited total revenue of Rs 767.9 crore and witnessed a surge of 12 per cent YoY basis from last year same quarter. In similar fashion EBITDA levels witnessed a hike of 33 per cent from corresponding quarter last year to Rs 89.8 crore. On other hand, the PAT (profit after tax) declined by 39 per cent from March 2022 quarter to report Rs 22.8 crore.    

Correspondingly, consolidated financial statements for FY23 reported its total revenue at Rs 2873.3 crore, up by 25 per cent over FY22. EBITDA level stood at Rs 281.1 crore witnessing a spike of 38 per cent compared to previous year. Net profit of the company dropped by 71 per cent, as compared to FY22 to Rs 56.7 crore.  

As on march 31, 2023,  ace investor Mukul Agarwal held 1.38 per cent stake in the company. As per share holding pattern there was an increase of 0.6 per cent and 1 per cent in foreign institutional investors and domestic institutional investors respectively. Mutual funds have increased their holdings from 1.17 per cent to 2.26 per cent in March 2023. 

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Commenting on the company’s performance, Sandip Somany, Chairman, Hindware Home Innovation Limited quoted , “Going forward, our focus will continue to be on innovation, expansion of our distribution and enhancing our operating efficiencies and supply chain to generate reliable, sustainable shareholder returns.”    

Hindware Home Innovation Limited is a leader in building products and one of the fastest growing players in the Indian consumer appliances segment.   

The stock has gained momentum in the past 1 year as it has given more than 60 per cent returns. Moreover, the stock has surged more than 200 per cent in the last 5 years. Keep a close eye on this trending stock.