Laxmi Organic Industries tanks over 6 per cent despite posting positive quarterly results

The shares of Laxmi Organic Industries Ltd plunged 6.29 per cent to Rs 397.60 despite posting good Q4FY22 numbers. Besides, the 52-week high value of the company’s share is Rs 628.05.

Considering the financial performance of the company, on a consolidated basis, it recorded net sales and other operating income of Rs 879.86 crore thereby, posting a growth of 69.36 per cent from Rs 519.52 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 74.82 crore in Q4FY22 as compared to an operating profit of Rs 65.42 crore in Q4FY21. Q4FY22 recorded a net profit of Rs 57.46 crore in comparison with the net profit of Rs 36.37 crore in the same quarter of the previous year, giving a strong rise of 58 per cent.   

Considering the yearly performance, the net profit of Laxmi Organic Industries rose by 101.83 per cent to Rs 256.46 crore as against Rs 127.06 crore during the previous year, ending March 2021. Also, net sales rose by 69.36 per cent to Rs 879.86 crore as against Rs 519.52 crore during the previous year ending March 2021.  

Laxmi Organic Industries Ltd is engaged in the business of speciality chemicals and primarily manufactures ethyl acetate, acetic acid & diketene derivative products (DDP).  

Keep a close eye on this scrip for the upcoming sessions.