Shares of SEL Manufacturing Company have rallied 1,218 per cent in the last three months. The stock, which closed at Rs 55.35 on January 18, 2022, rose to a high of Rs 729.65 on the BSE today (April 19). An amount of Rs 1 lakh invested in the shares of SEL Manufacturing three months ago would have turned into Rs 13.18 lakh today.
In comparison, Sensex slipped 5.77 per cent during the period.
SEL Manufacturing stock closed at Rs 694.95 on April 18. The stock hit an upper circuit of 5 per cent at Rs 729.65, a fresh 52-week high, on BSE today. It touched a 52-week low of Rs 4.78 on October 28, 2021. SEL Manufacturing stock stands higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The share has zoomed 140 per cent in a month and risen 15.74 per cent in a week.
Market cap of the firm stood at Rs 2,417 crore on BSE. The stock hit a 52-week low of Rs 1.14 on March 8, 2021. Holdings of promoters of the firm remained unchanged at 75.27 per cent in the December 2021 quarter.
FIIs' holdings also remained unchanged from 0.13 per cent in the December quarter. However, the number of FII investors fell from 16 to 15 in the December quarter.
Institutional investors reduced holdings from 24.17 per cent to 23.70 per cent in the quarter ended December 2021. Eight promoters held 75.27 per cent stake and 16,521 public shareholders owned 24.73 per cent in Q3 of last fiscal.
Of these, 15,546 public shareholders owned 0.46 per cent stake with capital up to Rs 2 lakh. Three foreign portfolio investors (FPIs) held 42,178 shares in Q3 of the current fiscal.
However, one should note that the firm is a loss-making one. Of the last eight fiscals, it has logged losses in seven. The turnover in the stock is also very thin. In the afternoon session, 506 shares changed hands amounting to a turnover of Rs 3.69 lakh today.
In the December 2021 quarter, net loss narrowed by 42.69 per cent to Rs 28.30 crore against a loss of Rs 49.38 crore in the corresponding quarter of previous fiscal. Sales rose 45.63 per cent to Rs 117.29 crore in the last quarter against Rs 80.54 crore in the December quarter of 2020.
Operating profit rose 113.47 per cent to Rs 3.41 crore for the quarter ended December against a loss of Rs 25.32 crore in the corresponding quarter of the previous fiscal.
On a quarter-on-quarter basis, the firm's net loss narrowed by 24 per cent from Rs 37.23 crore loss in the September 2021 quarter. On an annual basis, net profit zoomed 526. 86 per cent to Rs 2,507 crore for the fiscal ended March 2021 against a loss of Rs 587.37 crore for the fiscal ended March 2020.
Sales slipped to Rs 190.38 crore in the last fiscal against Rs 352.62 crore for the fiscal ended March 2020.
SEL Manufacturing Company is a vertically integrated multi-product textile company. The company is engaged in the manufacturing, processing and trading of yarn, fabric, readymade garments and towels. It offers terry towels, such as beach towels, bath towels, kitchen towels and Christmas towels.
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