This textile company stock was buzzing on the bourses today gaining 10%
The share price opened at Rs 62.40 and reached a high of Rs 64.90, rising by 10%.
United Polyfab Gujarat stock is making waves at today's stock exchanges. The stock began trading at Rs 62.40 and climbed to a high of Rs 64.90 on the National Stock Exchange (NSE). The 52-week high for the company's stock is Rs 79.65, while the 52-week low is Rs 17.35. The stock market estimates the company's worth at Rs 136 crore as of right now.
United Polyfab Gujarat Limited was founded in 2010, and its focus since its inception has been the manufacture and sale of woven fabrics and yarn. The company also produces a variety of woven textiles, including grey denim, grey fabric, and grey cotton fabric.
It manufactures cotton yarn, coloured fabric, grey fabric, and denim fabric. In a single day, the company's 42 autonomous Airjet looms can weave 28,896 square feet of grey denim, grey fabric, or cotton grey fabric. Usually, the company makes 7,000,000 metres of cloth per month, which is well about the limit of what it can make. The company has constructed a spinning plant with installed capacity as part of its backward integration strategy, building on its previous success in trading and manufacture (weaving).
The spinning plant at the company has eleven foreign machines, such as an automatic cone winding machine, a yarn splicer, and an automatic doffer.
Brands like Jindal, E-Land Apparel, Anubha, JRD Denims Ltd, etc. are among the company's clientele. NSE Mainboard replaced SME Emerge Platform as the company's primary trading platform in December 2021.
In FY22, sales were a whopping Rs 702 crore for the business. The current raw material expenses are equivalent to 89% of sales. In the fiscal quarter ended in June, the company's revenue was Rs 170 crore, an increase of 32% year-over-year and 12% sequentially. From the previous quarter, profits increased 34%, and from the previous year, they increased 69%. As a rule, a company's ROI on equity is 18.7% and ROCE is 12.8%. Through its operations, the company generated Rs 9 crore in cash in FY22.
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