Multibagger Alert: This speciality chemical stock, owned by Ashish Kacholia, made a fresh 52-week high on August 18, 2022!
The shares of this speciality chemicals company have made a fresh 52-week high while getting locked in the 5 per cent upper circuit on the same day!
The shares of Vishnu Chemicals peaked at Rs 1,920 on Thursday morning, registering a new 52-week high price.
The shares witnessed a spurt in volume by 5.42x on Wednesday and have been locked in the upper circuit for three consecutive sessions!
‘Big Whale’ Ashish Kacholia has a 3.4 per cent stake in Vishnu Chemicals and owns 4,03,522 shares worth Rs 76.3 crore as of June 2022.
With a market capitalisation of Rs 2,259 crore, the scrip of Vishnu Chemicals has soared 29 per cent in just one month!
Incorporated in 1989, Vishnu Chemicals Limited is in the business of manufacturing, marketing, and export of chromium chemicals & barium compounds across the world.
Located in Hyderabad, the company is serving more than 12 industries across 57 countries globally.
The company deals in two compounds namely, chromium & Barium, and is the leading manufacturer in India as well as South Asia for the same. The key raw materials, constituting more than 60 per cent combined, are chrome ore and soda ash while others are derivatives.
The company recently announced its Quarterly Results for Q1FY23 wherein, its net sales soared 82.4 per cent to Rs 358.34 crore as compared to Rs 196.46 crore in Q1FY22. The net profit has also improved and stands at Rs 34.06 crore, recording an increase of 194 per cent since the same quarter of the previous year.
Looking at the annual performance of Vishnu Chemicals, the company has reported net sales of Rs 1,065.88 crore for FY22, which increased by 58.67 per cent from last year’s value of Rs 671.76 crore. The operating profit for FY22 stood at Rs 161.41 crore as compared to Rs 80.27 crore for FY21, which has climbed 101.08 per cent. The net profit was at Rs 81.39 crore for FY22 as against a net profit of Rs 34.49 crore for FY21, recording a phenomenal rise of 135.96 per cent!
The shares of this multibagger ">Multi-bagger gained 120 per cent on a YTD basis and generated returns of 992 per cent in just two years!
This means that Rs 1 lakh invested in this stock two years ago would have amounted to Rs 10.92 lakh today!
Watch out for this multi-bagger in the upcoming trading sessions!