Promoters Holds 69% Stake: Textile Penny Stock Under Rs 30 Jumps 9.7% On February 25; Do You Have It?
The stock’s 52-week high is Rs 42.88 per share and its 52-week low is Rs 18 per share.
On Tuesday, shares of Vishal Fabrics Ltd gained 9.7 per cent to an intraday high of Rs 29.69 per share from its previous closing of Rs 27.07 per share. The stock’s 52-week high is Rs 42.88 per share and its 52-week low is Rs 18 per share.
Vishal Fabrics Ltd, a textile company established in 1985 and part of the Gujarat-based Chiripal Group, manufactures and distributes a wide range of fabrics including dyed yarn, denim, and custom textile work. Certified for quality and sustainability, they specialize in dyeing, printing, and processing denim and other fabrics for both their collections and client-specific jobs. Their fabrics come in various compositions like 100 per cent cotton, cotton blends, and modal, and they are a leading supplier of stretch denim. With a focus on innovation, they offer diverse finishes, weaves, blends, and colours. Their extensive production capacity comes from multiple facilities in Ahmedabad, Gujarat, and they boast an impressive list of clientele including well-known international fashion brands. The company has a market cap of over Rs 550 crore.
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According to Quarterly Results, the net sales increased by 5 per cent to Rs 403.7 crore and net profit increased by 32 per cent to Rs 9.6 crore in Q3FY25 compared to Q2FY25. In its nine-month results, the company reported net sales of Rs 1,128.4 crore and net profit of Rs 21.7 crore in 9MFY25. Looking at its annual results, the company reported net sales of Rs 1,450 crore and a net profit of Rs 21 crore in FY24.
The stock is up by 65 per cent from its 52-week low of Rs 18 per share. The company's promoters have a commanding 69 per cent ownership stake, while FIIs hold 3.44 per cent and public shareholders own 27.56 per cent. Investors should keep an eye on this micro-cap textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.