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 8.3k Views
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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.

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