Specialty chemical posts over 5500% growth in Q3 PAT, scrip up 101% in 6 months
With a market valuation of ₹254.91 Cr, Cochin Minerals and Rutile Ltd. is a small-cap company that engages in the specialty chemical industry. The firm is the largest manufacturer of aqua ferric chloride in India and produces the highest-quality synthetic rutile globally. Despite being one of Dalal Street’s multibagger stocks over the last year, the company has announced its incredible Q3 earnings.
During Q3FY23, the company posted revenue from operations of ₹119.04 crore, up 34.09% from ₹88.78 crore recorded in Q3FY22. The company recorded a net income of ₹120.75 Cr in the quarter ended December 2022 compared to ₹88.93 Cr recorded in the quarter ended December 2021, representing a YoY growth of 35.78%. The company’s net expenses reached ₹100.32 Cr in Q3FY23 against ₹88.42 Cr in the year-ago quarter.
The company posted a profit before tax (PBT) of ₹20.44 Cr in Q3FY23 compared to ₹0.52 Cr in Q3FY22, representing a YoY growth of 3,830.76%, whereas the company’s profit after tax (PAT) or net profit stood at Rs. 16.81 crore in Q3FY23 compared to ₹0.29 Cr in the year-ago quarter, representing a YoY growth of 5,696.55% YoY. The EPS of Cochin Minerals and Rutile reached ₹21.47 in Q3FY23 compared to ₹0.37 recorded in the year-ago quarter.
The shares of Cochin Minerals and Rutile closed today on the BSE at ₹325.55 apiece level, up by 1.32% from the previous close of ₹321.30. The stock recorded a total volume average of 13,331 shares and a delivery volume average of 947,967 shares or 71.11%. The stock price soared from ₹149 to the current market price during the past five years, resulting in a multibagger return of 100.09%.
The stock price climbed from ₹140.40 to the current market price during the past three years, resulting in a multibagger return of 116.29%. The stock price jumped from ₹118.10 to the current market price during the course of the past year, resulting in a multibagger return of 176.93%. The stock has appreciated 16.41% YTD so far in 2023, and in the past six months, it has gone from a low of Rs. 162.15 to a high of ₹325.55, representing a multibagger return of 101%.
The stock touched a 52-week-high of ₹354.00 (14/02/2023) and a 52-week-low of ₹92.05 (10/05/2022), indicating that at the current market price, the stock is trading, 8.03% below the recent 1 year high and 253.66% above the 1 year low. During Q3FY23, the company recorded a promoter shareholding of 51.94%, DIIs stake of 0.62% and a public stake of 47.43%.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Download Finplay News App to get Daily Market Updates.
More
Less
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.