Rs 13,00,00,000 Capex: Multibagger specialty chemicals company constructs a new factory building at its Ambernath plant in Maharashtra
The stock is up by 76 per cent from its 52-week low of Rs 100 per share and gave multibagger returns of over 1,200 per cent in a decade.
Vipul Organics Limited, the BSE-listed (VIPULORG / 530627) leading specialty chemicals company in the pigments and dyes segment, announced the construction of its new factory building at Ambernath in Maharashtra. After obtaining environmental clearance and MIDC building plan approval, the new factory building with a 27,000 sq. feet built-up area was constructed. The factory will begin production soon, as the installation of machinery is in progress.
The capex incurred for the new factory building at Ambernath is Rs 13 crore involving a mix of equity and debt. This included raising Rs 5.5 crore from promoters by preferential shares and Rs 7.5 crore debt from banks. This expansion will enhance the capacity for pigment preparations for Vipul Organics.
Vipul Organics Limited has a strong focus on backward and forward integration of intermediates, pigment powder and pigment dispersions. The new factory building will optimise this strategy and will lead to economies of scale and the benefits thereof. Vipul Organics Limited’s Ambernath facility was set up in 1998 and currently produces naphthols, pigment powders, pigment dispersions, reactive dyes, acid dyes and direct dyes.
Also Read: Heavy buying was witnessed in this multibagger penny stock at Rs 29.58; Hit back-to-back upper circuits
Vipul Organics Limited is a BSE-listed (VIPULORG / 530627) leading specialty chemicals company in the pigments and dyes segment. Today, it is amongst the foremost manufacturers of pigments, dyestuff, lake colours and pigment intermediaries /fast salts in the country. It has 3 manufacturing facilities spread across Maharashtra and has a global footprint in over 50 countries. Vipul Organics ended the financial year 2022-23 with revenues of Rs 134 crore.
The company has a market cap of Rs 229 crore and has been maintaining a healthy dividend payout of 38 per cent. Today, shares of Vipul Organics Ltd zoomed 0.34 per cent to Rs 176.30 per share with an intraday high of Rs 184.4 and an intraday low of Rs 174.55 from its previous closing of Rs 175.70. The stock is up by 76 per cent from its 52-week low of Rs 100 per share and gave multibagger returns of over 1,200 per cent in a decade.Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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