Shares of this process equipment manufacturer are trending today!

Shares of this process equipment manufacturer are trending today!

by 5paisa Research Team Last Updated: Dec 13, 2022 - 02:20 pm 8.2k Views
Listen icon

The stock surged 9% today.

On December 2, the market is trading in the red. At 3 pm, the S&P BSE Sensex is trading at 62,807.19, down 0.75%, while NIFTY50 is trading at 18,689.55, down 0.65%. Regarding sectoral performance, Realty and Metal are the top gainers, while Auto and Power are among the top losers. Talking about stock-specific action, HLE Glascoat Ltd is among the top gainers in BSE group ‘A’.

The shares of HLE Glascoat Ltd surged 9% and are trading at Rs 694.95. The stock opened at Rs 689 and made an intraday high and low of Rs 1344 and Rs 601, respectively. The company has a market capitalisation of Rs 4750 crore. The stock is trading at a PE multiple of 14.97x.

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.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.