Ashish Kacholia's held stock disappoint investors: Net profit fell by 41 per cent, While revenue declined by 10 per cent

According to latest shareholding data, Ashish Kacholia holds 1.40 per cent in the company. The company experienced a 17 per cent decline in operating profit, amounting to Rs 17.66 crore, compared to Rs 21.22 crore in the previous year.

HLE Glasscoat Limited saw a significant 10 per cent decline in its consolidated revenue in Q1 FY24, reaching Rs 126 crore. This contrasts with Rs 141 crore in the same period of the previous year.

During the quarter, the company's operating profit declined by 17 per cent to Rs 17.66 crore, as compared to Rs 21.22 crore in the previous year. Furthermore, the operating profit margin decreased from 15.06 per cent to 13.96 per cent.

Turning to the net profit, the company's net profit for the quarter ended June 2023 witnessed a significant fall of 41 per cent, amounting to Rs 7.71 crore. This is in comparison to the Rs 13.02 crore recorded in the corresponding period of the previous year. The net profit margin stood at 6 per cent.

According to the latest shareholding data, Ashish Kacholia holds 1.40 per cent in the company.

On the stock market front, the company's shares opened at Rs 587.25, reached an intraday high of Rs 598.70, and ultimately closed at Rs 589.95 each on the BSE. The stock’s 52-week highs and lows are Rs 815.29 and Rs 466 respectively. The company's current market capitalization is Rs 4027 crore.

When considering recent returns, the stock has shown negative returns. However, over the longer time span, it has yielded a multibagger return of 1480 per cent in the last five years.

HLE Glascoat Ltd operates within the industry of producing and selling glass-lined equipment, filters, and dryer equipment for diverse sectors within the country.

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