Penny stock under Rs 30: This Catechu producer announces stellar quarterly results and dividend; reports a 200 per cent jump in net profit!
What is a Catechu?
The Indian Wood Products Company Ltd is primarily engaged in the manufacturing of Catechu (Katha), processed gambier and trading of spices; announced its Quarterly Results and quarterly results ended June 30, 2023. Details below:
Financial Highlights for the Q1FY24:
- Total Revenue stood at Rs 50.81 crore, up 15.08 per cent compared to Q4FY23.
- EBITDA stood at Rs 3.69 crore, up 161.70 per cent compared to Q4FY23.
- Profit After Tax of Rs 1 crore, up 200 per cent over Q1FY23.
- The EPS for Q1FY24 is Rs 0.16.
- The company announced 0.05 per share and fixed the record date as September 09, 2023.
What is a Catechu?
It is an extract of the heartwood of the acacia tree, Senegalia catechu. It is a brown, astringent substance that has been used for centuries in traditional medicine. Catechu is also used as a food additive, a dye and a tanning agent. It is also known as cutch, cachou, and Katha.
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On Friday, shares of The Indian Wood Products Company Ltd plunged 0.70 per cent to Rs 27.02 per share with an intraday high of Rs 27.89 and an intraday low of Rs 27. The stock’s 52-week high of Rs 32.90 and its 52-week low is Rs 18.85. The company has a market cap of Rs 173 crore and reported excellent numbers in its annual results.
The stock is 19 per cent in just 1 month and over 25 per cent in 3 months. The stock is currently trading at 0.49 times its book value of Rs 55.2. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.