Multibagger stock hit 20 per cent upper circuit & 52-week high as company announces 5:1 stock split & future business expansion in State of Tamil Nadu
The stock gave multibagger returns of 148.6 per cent from its 52-week low of Rs 119.85 per share.
On Monday, shares of Premier Polyfilm Limited hit a 20 per cent upper circuit and made a new 52-week high of Rs 298 per share from its previous closing of Rs 248.35 per share. At the closing bell, shares of the company were trading at Rs 297.45 per share, up 19.77 per cent with a spurt in volume by more than 6.30 times on BSE.
The Board of Directors of Premier Polyfilm Limited (PPL) has approved a stock split and the purchase of industrial land in Tamil Nadu for future expansion. The stock split will subdivide each existing equity share of Rs 5 into five equity shares of Re 1 each. The record date for the stock split is November 5, 2024. The purchase of industrial land in Tamil Nadu is part of PPL's future expansion plans.
Incorporated in 1992, Premier Polyfilm Ltd (PPL) is a leading manufacturer of vinyl flooring, PVC sheeting, and artificial leather cloth. These products are used in a wide range of industrial and consumer applications, making PPL a significant player in the market. PPL offers a diverse range of products, including artificial leather for the transport industry, PVC films and printed sheeting for automotive, interiors, healthcare, and household applications, PVC floorings for transport, rail, and commercial use, self-adhesive films for car wrapping and interior decoration, PVC geomembranes for underground structure waterproofing, swimming pool liners and roofing sheets, wallpaper, and pool liners.
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With a manufacturing capacity of 32,000 MTPA, PPL supplies its products to various sectors, including Indian Railways and automotive OEMs. The company's distribution network spans across India. According to Quarterly Results, the net sales increased by 5 per cent to Rs 70.50 crore and net profit increased by 61 per cent to Rs 7.86 crore in Q2FY25 compared to Q2FY24.
The company, with a market cap of Rs 623 crore, has a promoter holding of 67.37 per cent, while DIIs own 1.02 per cent, the Government owns 0.26 per cent, and the remaining 31.35 per cent stake is held by the public as of June 2024. The shares of the company have an ROE of 25 per cent and an ROCE of 30 per cent. The stock gave multibagger returns of 148.6 per cent from its 52-week low of Rs 119.85 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.