This smallcap company has hit the upper circuit of 5% today

This smallcap company has hit the upper circuit of 5% today

by 5paisa Research Team Last Updated: 2022-03-22T18:16:38+05:30

Proposed QIP of equity shares fuels the rally. 

Gulshan Polyols Ltd, engaged in the business of commodity chemicals, has been trending on Dalal Street as it has rallied by about 5%, thereby hitting the upper circuit from its previous close of Rs 368.85. The share has been trading in the green territory today. The scrip opened at Rs 382 and made a day’s high of Rs 387.25, where the trading in the stock has been halted by the exchange. 

Such tremendous reaction has come on the back of the company’s board proposing a qualified institutional placement (QIP) of equity shares of the face value of Rs 1 each on March 21, 2022. The floor price of the issue has been stated at Rs 343.66.

Talking about its recent quarterly results, in Q3FY22, revenue grew by 39.94% YoY to Rs 292.66 crore from Rs 209.13 crore in Q3FY21. On a sequential basis, the top-line was up by 5.55%. PBIDT (Ex OI) was reported at Rs 35.21 crore, down by 3.14% as compared to the year-ago period and the corresponding margin was reported at 12.03%, contracting by 535 basis points YoY. PAT was reported at Rs 19.13 crore, up by 2.84% from Rs 18.61 crore in the same quarter for the previous fiscal year. The PAT margin stood at 6.54% in Q3FY22 contracting from 8.9% in Q3FY21.

Gulshan Polyols Ltd (GPL) was incorporated in the year 1981 with the primary business of manufacturing calcium carbonate. Its business portfolio covers starch sugars, calcium carbonate; alcohol business; agro-based animal feed, and onsite PCC plants. Gulshan Polyols caters to a wide range of industries and niche markets in the core sector encompassing pharmaceuticals, personal care products, footwear, tyres, rubber & plastics, paints, alcohol, value-added paper. agrochemicals, food and agro products.

The stock has a 52-week high of Rs 429 and a 52-week low of Rs 87.10.

Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

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

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number