Multibagger Alert: This stock from the speciality chemicals sector has gained over 132% in a year!
Fineotex Chemical Ltd has delivered a 42% return in 42 days.
Fineotex Chemical Ltd, which is one of the leading speciality chemicals companies in India, has multiplied shareholders wealth by over 2.3 times in just trailing twelve months. The stock was trading at Rs 64.8 on January 12, 2021, from where it closed at Rs 150.95 on 11 January 2022 on the BSE.
The multibagger company had a robust quarterly performance. Net sales for the quarter ended September 21 came in at Rs 78.5 crore compared to Rs 63.3 crore in Q1 FY22. That is a high growth of nearly 24.05% on a sequential basis and 43.37% on a YoY basis. The EBITDA (exclusive of other income) was Rs 14.8 crore which witnessed an exploding growth of 50.67% QoQ and 48.53% YoY. The company recorded a net profit of Rs 11.12 crore in the quarter, while in the Q1 FY22 it stood at Rs 9.7 crore. The profitability too has grown decently by 14.77% sequentially and by just 1.04% on a YoY basis. The shareholders of this multibagger scrip might have expected a strong quarter which has well reflected in the share price.
The company had entered into a joint venture with an Australian based private company called HealthGuard which is a leading company in anti-microbial, anti-viral, anti-mosquito segments. According to the company’s press release, HealthGuard will concentrate on developing cutting-edge solutions, that will be marketed and channelized across the world by Fineotex-Biotex.
Fineotex Chemical Ltd is engaged in the manufacturing of speciality chemicals especially in the textile industry. The company’s management is focused on expanding its product portfolio into homecare hygiene and drilling speciality chemical segments.
The stock has a 52-week high of Rs 156.70 and a 52-week low of Rs 56.60
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