Camlin Fine Sciences shares jumped 11% on block deal. Details here

Shares of Camlin Fine Sciences Ltd rose sharply on Friday after a block deal, in which 23 lakh shares worth Rs 22.53 crore of the company changed hands. The stock surged 11.05 per cent to close at Rs 109.80. At this price, the small-cap scrip has slipped 18.24 per cent on a year-to-date (YTD) basis.

On BSE, around 27.62 lakh shares changed hands today. The figure was higher than the two-week average volume of 1.51 lakh shares. Turnover on the counter came at Rs 27.49 crore, commanding a market capitalisation (m-cap) of Rs 1,838.77 crore.

The counter traded higher than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs) but lower than the 50-day, 100-, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 55.33. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 61.34. Earnings per share (EPS) stood at (-)0.09.

Camlin Fine CFO Santosh Parab, in an earnings call, said, "Operating expenses remain under control despite onetime cost like reversal of power subsidiary of Rs 6.36 crore in CFS Europe as well as devaluation of Argentina Peso in our Argentina subsidiary for Rs 11.85 crore. These two items have an adverse impact on the profit after tax (Q3 PAT) for the quarter."

"A comforting aspect has been the resultant EBITDA margin which stood at 8.4 per cent per cent vis-a-vis 7.8 per cent in sequential quarter. In the given circumstances, this is quite a good thing," he said

We were able to post a stable operating revenue of Rs 385 crore, which is 4.9 per cent lower than the sequential quarter and only 0.5 per cent lower than the corresponding quarter," Parab further stated.

As of December 2023, promoters held a 48.03 per cent stake in the specialty chemicals firm. Camlin Fine is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.