5,600 per cent multibagger returns: This micro-cap company receives order worth Rs 7.15 crore from TNPL
The stock gave multibagger returns of 92.94 per cent in a year and 153 per cent from its 52-week low.
Vipul Organics Ltd, the BSE listed (VIPULORG / 530627) leading Specialty Chemicals company in the pigments and dyes segment, today bagged an order from Tamil Nadu News Print and Paper Limited (TNPL). The order from TNPL is worth Rs 7.15 Crore to supply Blue and Violet Pigment Dye.
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Management Commentary
“Within 2 years, we have become the preferred colorant suppliers to the paper industry. It is exciting to be able to meet the requirements of the industry and be known for our innovative, high-quality products for the industry”, says Mr. Mihir V Shah, Executive Director, Vipul Organics Limited.
“This order is an endorsement of the quality of our products developed for the Paper Industry. We are on course to meet our target of Rs. 50 crores from this sector over the next 3 years. We received a strong positive response to our offering for the Paper Industry through participation in B2B shows of the industry. We have been busy converting our trial orders to full orders”, he adds.
Earlier, Vipul Organics Ltd received government clearance to expand its Ambernath facility, allowing them to increase production of pigments and dyes from 10 MT/M to 508 MT/M. This phased expansion, funded through internal funds and external borrowings, will start with reaching 250 MT/M and was aided by a Rs 5 Crore promoter investment.
About Company
Vipul Organics Limited is a 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 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 268 crore and has been maintaining a healthy dividend payout of 29.2 per cent. Today, shares of Vipul Organics Ltd zoomed 2.64 per cent and 13% away from its 52-week high of Rs 237. The stock gave multibagger returns of 92.94 per cent in a year and 153 per cent from its 52-week low. The stock has logged 5,600 per cent gains through its lifetime
In India, the dyes and pigments segment is expected to witness high growth in the Paper sector due to expanding packaging and printing industries.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.