Buzzing stock: Dharamsi Morarji Chemical soars more than 6% today

Buzzing stock: Dharamsi Morarji Chemical soars more than 6% today

by 5paisa Research Team Last Updated: Dec 13, 2022 - 06:37 pm 36.9k Views
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The company has reported 72.16% YoY growth in revenue.

Dharamsi Morarji Chemical (DMCC), a producer of sulphuric acid and phosphate fertilizers is trading up by 6.32% on Friday. The company has given 19.42% returns to its investors in the last 6 months. The company has recently published strong Q3FY22 results.

Here's a snapshot of Q3FY22 numbers

Q3FY22 Revenue from Operations at Rs 81.48 crore as compared to Rs 47.32 crore in Q3FY21. On a QoQ basis, the revenue of the company was up by 12.34%. PBIDT (Ex OI) was reported at Rs 11.44 crore, up by 42.21% as compared to the year-ago period and the corresponding margin was reported at 14.03%, contracting by 296 basis points YoY. PAT was reported at Rs 6.44 crore, up by 36.54% from Rs 4.72 crore in the same quarter for the previous fiscal year. The PAT margin stood at 7.91 per cent in Q3FY22 contracting from 9.97% in Q3FY21. The revenue of speciality chemicals is 55% of total revenue and revenue of bulk chemicals is 45%.

Expansionary plans of the company 

The company has invested Rs 10 crore in the debottlenecking project. The company has completed 2 multipurpose plants projects at the Dahej facility. The commercial production of these 2 multipurpose plants has started and the volumes are expected to further ramp up in Q4FY22. The company will be investing Rs 50 crore in adding incremental capacity in bulk chemicals segment. The commercial production of this project has started and the company is expecting to ramp up the production to optimum utilisations by the end of Q1FY23.

One more factory of speciality chemicals with an investment of Rs 20 crore is expected to begin commercial production by Q4FY22. The company will use this facility for manufacturing products under contract. The company will invest Rs 20 crore for expansion to manufacture intermediates for the pharmaceutical and agrochemical industry. 

About Dharamsi Morarji Chemical Co. Ltd.

The Dharamsi Morarji Chemical Company Limited is engaged in the manufacturing of bulk chemicals and speciality chemicals used in industries such as pharmaceuticals, detergents, dyes etc. With focused Research and Development efforts, processes for downstream sulphur-based chemicals were commercialized. DMCC offers customized products and thoughtful solutions to global customers. 

In the early trade session on Friday, the stock of Dharamsi Morarji Chemical Co. Ltd. was trading at Rs 371.5 up by 6.32% or Rs 22.55 per share. The 52-week high of the scrip is recorded at Rs 435.35 and the 52-week low at Rs 276.05 on the BSE. 

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