Ace Investor Ashish Kacholia has increased his stake in this multibagger.
The company delivered 619.49% returns in two years.
Fineotex Chemical Limited is a leading manufacturer of over 450 speciality chemicals and enzymes. It caters to multiple sectors such as textile, home care, hygiene, mining, garment, water treatment, leather, construction, paint, agrochemicals, and adhesives.
In just 2 years, an investment of Rs 1 lakh would have become Rs 7.19 lakh. On 3 August 2020, the stock price was Rs 29.75, and on 3 August 2022, the stock price was Rs 214.05, showcasing a growth of 619.49%.
The company has truly proved to deliver exceptional returns to its investors. The shares of this speciality chemicals company jumped ~20% in the last month, 40% in the last 6 months, and almost 110% in one year.
In the June quarter, Ashish Kacholia aka the Big Whale increased his stake in this multibagger to 1.9% from the previously held 1.8% in the March quarter. The famous investor whose trading activities are under the radar of many investors acquired 5.5 lakh equity shares of the company.
In Q1FY23, on a consolidated basis, the company’s net sales climbed by 144.56% YoY to Rs 135.77 crore from Rs 63.28 crore. PBIDT (ex. OI) was reported at Rs 26.24 crore, a surge of 167.26% YoY compared to the year-ago period, which was Rs 9.82 crore. PAT was reported at Rs 20.31 crore against the profit of Rs 9.69 crore in the same quarter for the previous fiscal year, registering a YoY growth of 109.53%. Meanwhile, the PAT margin stood at 14.96% in Q1FY23.
On Friday, 5 August 2022, the company hit a fresh 52-week high of Rs 253.15 and it has a 52-week low of Rs 93.30. At 11:14 am, the shares of Fineotex Chemical Limited have rallied by 8.32 % and the scrip is trading at Rs 248.15
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