Penny stock under Rs 100: Textile company bags new order worth Rs 9,00,000 from Apex Polytex Pvt Ltd

The shares of the company have a PE of 46x, an ROE of 23 per cent and an ROCE of 24 per cent.

Divyadhan Recycling Industries Limited has secured a significant order from M/s Apex Polytex Pvt Ltd for the supply of 10MT of Hollow Conjugated Fiber. This domestic order, valued at INR 9 lakhs, is expected to be executed within a 30-day timeframe. The company's ability to secure such orders underscores its strong position in the recycling industry and its commitment to providing high-quality recycled products to domestic clients.

Divyadhan Recycling Industries Limited, established in 2010, is a prominent player in the sustainable textile industry. The company specializes in manufacturing Recycled Polyester Staple Fiber (R-PSF) and Recycled Pellets. By repurposing discarded PET bottles, DRIL contributes to a circular economy and reduces environmental impact.

DRIL's R-PSF is a high-quality fiber used in a wide range of applications, including pillows, cushions, quilts, and various textile products. The company's recycled pellets are employed in the production of both food-grade and non-food-grade bottles, further enhancing its commitment to sustainable practices. With a state-of-the-art manufacturing facility in Himachal Pradesh, DRIL is well-positioned to meet the growing demand for eco-friendly materials. However, it's important to note that the company's significant revenue reliance on a single customer presents a potential risk to its financial stability.

The company has a market cap of over Rs 100 crore. The shares of the company have a PE of 46x, an ROE of 23 per cent and an ROCE of 24 per cent. The stock’s 52-week high is Rs 96 and its 52-week low is Rs 66. Investors should keep an eye on this textile penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.