Radhakishan Damani Bought 43,06,487 Shares of Multibagger Agrochemical Company: Heavy Buying, Hit 52-Week High Today!

The shares of the company have delivered a return of around 450 per cent to its shareholders.

Ace investor Radhakishan Damani purchased shares of this Small-Cap pesticide and agrochemical manufacturing company's stock on Wednesday. The shares of the company hit the upper circuit yesterday and were among the Top Gainers.

Bhagiradha Chemicals & Industries is an agrochemical company in India engaged in the manufacturing of insecticides, fungicides, herbicides, etc. It was promoted by the late Sri S. Koteswara Rao, a former scientist of the Indian Institute of Chemical Technology, Hyderabad, in the year 1993.

On June 5, 2024, Radhakishan Damani linked firm Derive Trading and Resorts Private Limited acquired 43,06,487 equity shares, constituting approximately 3.5 per cent of BCIL's total equity, for Rs 81.17 crore. The shares were purchased by Derive Trading for Rs 188.49 per share through a block deal on the BSE, as per exchange data.

At the start of the day's trading session, the stock opened at Rs 244 per share, compared to the previous day's closing figure of Rs 223.25 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 241.45 per share on the BSE representing a rally of over 8 per cent. The current market capitalization of BCIL stands at Rs 2,512 crore, and the stock has generated an impressive multibagger return of around 446 per cent in the past 3 years. 

Financial Performance

As per the Quarterly Results, in the fourth quarter of FY24, the company recorded a revenue of Rs 110.32 crore, marking a 10 per cent year-on-year de-growth from Rs 122.57 crore in Q4 FY23. The operating profit for Q4 FY24 stood at Rs 13.95 crore, compared to Rs 18.29 crore in the same quarter of the previous fiscal year, resulting in an operating margin of 12.65 per cent. The net profit for Q4 FY24 was Rs 8.12 crore, compared to Rs 9.82 crore. Looking at the annual performance, the company generated a revenue of Rs 407 crore in FY24, compared to Rs 502 crore in FY23. The operating profit for FY24 was Rs 43 crore, with a net profit of Rs 20 crore.

Regarding the shareholding pattern, the promoters own 20.27 per cent of the company, while FIIs and DIIs collectively hold 0.08 per cent and 3.14 per cent, respectively. Public or retail investors hold the remaining 76.51 per cent.

Investors must keep this small-cap multibagger stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.