Nahar Industrial Enterprises hits 20 per cent upper circuit post stellar Q3FY22 performance

The company’s bottom line has gone up by an exceptional 945% YoY.

Nahar Industrial Enterprises Limited, a vertically-integrated textile manufacturing company, has hit the upper circuit of 20 per cent after posting its Q3FY22 performance. 

Let’s take a look at the numbers that drove the stock price up by 20 per cent. 

During the quarter, the company’s topline went up by 25.83 per cent YoY to Rs 524.11 crore. The PBIDT (ex OI) surged by 208 per cent YoY to Rs 95.50 crore while its corresponding margin expanded by 1062 bps to 18.31 per cent.  

This growth was driven by a decline in the purchase of stock-in-trade and changes in inventories of finished goods, work-in-progress and stock-in-trade. The PAT went up by a whopping 945 per cent YoY to Rs 47.84 crore, while the corresponding margin expanded by 793 bps to 9.02 bps.   

The company’s operations range from spinning, weaving and processing and also has a sugar unit with a capacity of 2500 TCD per day. It is a part of the NAHAR Group of Companies that is engaged in various businesses such as sugar manufacturing, BOPP film, investments, lending, financial advisory, solar power generation, windmills and non-conventional co-generation power plant etc. 

With such an impressive performance, it’s no wonder that the stock has hit the upper circuit. Moreover, at the current price level of Rs 190.05, the company also made a new 52-week high today.