Do you have these low-priced textile company shares that shot up 10 per cent today?
In today's trading session, the share price opened at Rs 62.40 and peaked at Rs 64.90, a gain of 10 per cent.
Shares of United Polyfab Gujarat are buzzing on the bourses today. The stock started trading at Rs 62.40 and reached a high of Rs 64.90 on the NSE. The company's 52-week high is Rs 79.65, and its 52-week low is Rs 17.35. The current value of the firm is Rs 136 crore on the stock market.
Incorporated in 2010, United Polyfab Gujarat Limited's primary business activity is the production and distribution of woven fabrics and yarn. Weaving grey denim, grey fabric, and grey cotton fabric are among the company's other manufactured goods.
Cotton yarn, coloured fabric, grey fabric, and denim fabric are all products of this business. Using their 42 automatic Airjet looms, the company can produce (weave) up to 28,896 metres of grey denim/grey fabric/cotton grey fabric each day. The business typically produces 7,000,000 metres of fabric per month, which is at or near its capacity. With a firm foundation laid in trading and manufacturing (weaving), the company has now established a spinning facility with installed capacity as part of its backward integration strategy.
A total of eleven foreign machines, including an automatic cone winding machine, a yarn splicer, and an automatic doffer have been installed in the company's spinning facility.
Customers of the company include Jindal, E-Land Apparel, Anubha, JRD Denims Ltd, etc. In December 2021, the NSE Mainboard took over the SME Emerge Platform as the primary trading venue for the company.
The company's sales in FY22 totalled Rs 702 crore. At present, raw material costs account for 89 per cent of revenue. The company's sales of Rs 170 crore in the quarter ending in June represented an annual growth of 32 per cent when compared to the previous quarter. Profit rose 34 per cent sequentially and 69 per cent annually from the previous quarter and the previous year, respectively. The typical return on equity and return on capital employed for the business is 18.7 per cent and 12.83 per cent, respectively. The company's operations resulted in Rs 9 crore of cash in FY22.