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