This stock jumped from Rs 280 to Rs 652 in two years

This stock jumped from Rs 280 to Rs 652 in two years

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 11.4k Views

This stock supplies process equipment to chemical and pharmaceutical companies.  

Two years back, on 28 October 2020, the stock was trading at Rs 280. Two years later, on 28 October 2022, the stock is trading at Rs 652. The stock also touched Rs 1430 during this period. This stock belongs to the S&P 500 SmallCap index and has a market capitalization of Rs 4,476 crore. The name of the stock is HLE Glascoat Ltd. 

HLE Glascoat is a process equipment manufacturer and solution provider to the chemical and pharmaceutical industries. The company’s products are used for storage, reaction, heat transfer, distillation and solid-liquid separation. Product categories of the company are- filtration & drying equipment, glass-lined equipment, exotic metal equipment, and cGMP pharma models. 

According to FY22’s industry-wise revenue break-up, 40% of the revenue comes from Speciality Chemicals, 32% from API & Pharma, 15% from Agrochemicals & Pesticides, and the rest 13% from Engineering & Manufacturing. 

HLE Glascoat’s financials have shown strong growth over the last 3 years. The consolidated revenue of the company grew by 82% from Rs 359 crore to Rs 652 crore. The net profit more than tripled during the same period. The company's operating margin for three years on average is 92%. 

HLE Glascoat enjoys huge operating margins due to its high market dominance in the industry, economies of scale, competitive pricing, and a proven track record of delivering excellence in engineering. 

Talking about the industry, the stock continues to benefit from the strong domestic demand in the chemical and pharmaceutical industry which is fueled by the government's push towards self-sustainability and China plus one strategy adopted by major economies to diversify their supply chain. 

On 28th October, at 1:18 pm, HLE Glascoat Ltd stock is trading at Rs 652. The is trading at a PE multiple of 14.89x. The scrip has 52-week high and low at Rs 1428 and Rs 601, respectively. 

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