Buzzing small-cap: Prima Plastics hits new 52-week high
On Friday, Prima Plastics Limited surged as much as 19.8 per cent and made a fresh 52-week high of Rs 93.40.
Later, it got closed 13.6 per cent higher at Rs 88.60 from its previous close of Rs 77.95. From its 52-week low level of Rs 23.80 recorded in March 2020, the stock has recovered approximately 292 per cent.
Today’s surge was led by the robust financial numbers declared by the company on Thursday for the quarter ending December 2020. Its consolidated revenue for the quarter came in at Rs 37.06 crore as against Rs 33.81 crore in the corresponding quarter last year, registering a 9.6 per cent YoY increase. EBITDA for the quarter grew by 35.2 per cent YoY to Rs 4.65 crore, with a corresponding margin expansion of 237 bps. EBITDA margin for the quarter stood at 12.5 per cent. PAT for the quarter increased by 116.7 per cent to Rs 5.83 crore.
Prima Plastics is one of the leading manufacturers & exporters of plastic products in India. It started its operation from manufacturing of chairs and thereafter, diversified its product range that includes furniture, pallets, insulated box, crates, road safety products, waste management products and others.
Presently, the company is focussing to grow internationally to export its products with new ideas and innovation. The plastic industry has a big scope in various government schemes such as infrastructure development, sanitation, and Swachh Bharat Abhiyan.