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Rs 9 to Rs 100: This penny stock turned into a multibagger in three years

Rs 9 to Rs 100: This penny stock turned into a multibagger in three years

An amount of Rs 1 lakh invested in the microcap stock three years ago would have turned into Rs 11.21 lakh on March 5.

Khaitan Chemicals and Fertilisers stock, which closed at Rs 8.92 on March 5, 2019, rose to a high of Rs 100 on the BSE on March 5, 2022 Khaitan Chemicals and Fertilisers stock, which closed at Rs 8.92 on March 5, 2019, rose to a high of Rs 100 on the BSE on March 5, 2022

Shares of Khaitan Chemicals and Fertilisers have rallied 1,023 per cent in the last three years. The penny stock, which closed at Rs 8.92 on March 5, 2019, rose to a high of Rs 100 on the BSE on March 5, 2022. An amount of Rs 1 lakh invested in the shares of Khaitan Chemicals three years ago would have turned into Rs 11.21 lakh on March 5. In comparison, Sensex rose 50.66 per cent during the period.

The stock closed 1.57 per cent lower at Rs 100 on March 5. The microcap share has lost 4.31 per cent in the last three days.

Khaitan Chemicals stock stands higher than the 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages.

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Khaitan Chemicals shares have gained 55.52 per cent since the beginning of this year. The stock has lost 9.68 per cent in a month and risen 0.91% in one week. Market cap of the firm stood at Rs 969.89 crore on BSE. The stock hit a 52-week low of Rs 20.55 on April 28, 2021 and touched a 52 week high of Rs 129.60 on January 28 this year.

Six promoters held 74.99 per cent stake in the firm and 27,350 public shareholders owned 25.01 per cent for the quarter ended December 2021. Of these, 26,857 public shareholders held 13.28 per cent stake with capital up to Rs 2 lakh. Two shareholders held 5.65% or 54.80 lakh shares with individual capital in excess of Rs 2 lakh.

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One foreign portfolio investor (FPIs) held 72,499 shares in Q3 of the current fiscal. Two mutual funds held 4,660 shares during the last quarter.

In the December 2021 quarter, net profit rose 362% to Rs 28.97 crore against Rs 6.27 crore in the corresponding quarter of previous fiscal.

Sales rose 151 per cent to Rs 273.10 crore in the last quarter against Rs 108.75 crore in the December quarter of 2020. Operating profit rose 195.11 per cent to Rs 45.24 crore for the quarter ended December against a profit of Rs 15.33 crore in the corresponding quarter of the previous fiscal.

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On a quarter-on-quarter basis, the firm's profit rose 2.62% from Rs 28.23 crore in the September 2021 quarter. Sales climbed 25.80 per cent from Rs 217.09 crore in Q2 of the current fiscal.

On an annual basis, net profit rose 64.92 per cent to Rs 24.87 crore for the fiscal ended March 2021 against a profit of Rs 15.08 crore for the fiscal ended 2020. For the fiscal ended 2019, net profit stood at Rs 7.90 crore.

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Sales climbed 11.45% to Rs 487.12 crore in the last fiscal against Rs 437.11 crore for the fiscal ended March 2020. For the fiscal ended 2019, sales stood at Rs 372.60  crore.

Khaitan Chemicals and Fertilizers Limited is engaged in the manufacturing of single super phosphate (fertiliser), sulphuric acid (chemical) and soya edible oil. The company's segments include fertilisers and chemicals and speciality chemicals.

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Published on: Mar 07, 2022, 10:37 AM IST
Posted by: Aseem Thapliyal, Mar 07, 2022, 10:11 AM IST