According to the quarterly results, the company reported net sales of Rs 97 crore in Q1FY24 compared to net sales of Rs 99 crore in Q1FY23, a decrease of 2 per cent. The net profit decreased by 53.66 per cent to Rs 19 crore in Q1FY24 compared to a net profit of Rs 41 crore in Q1FY23.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in red with a loss of 247.14 points or 0.37 per cent.

The price band of the issue has been fixed at Rs 187 to Rs 197 per equity share. The issue size is Rs 880 crore at a higher price band.

Shares of the company have gained more than 40 per cent in the last six months.

The company reported positive numbers in its half-yearly results and annual results. The net sales increased by 66.22 per cent to Rs 210.77 crore and net profit increased by 32.61 per cent to Rs 11.67 crore in H2FY23 over H2FY22. The net sales increased by 144.78 per cent to Rs 392.65 crore and net profit increased by 122.93 per cent to Rs 24.79 crore in FY23 over FY22.

Order Book Update: The total order book as of June 30, 2023 stands at Rs 32,486 crore. EPS stands at Rs 1.99 per equity share of the face value of Rs 2 per share.

The company does manufacturing and trading of various types of Specialty Chemicals viz, water-based adhesives and solvent-based adhesives. The company has a market cap of Rs 58 crore with a 5-year CAGR of 39 per cent. The company reported excellent numbers in its quarterly results and annual results.

The company has a market cap of Rs 106 crore and the debtor days have improved from 57.1 to 44.5 days. According to the shareholding pattern, the promoters of the company own 70.72 per cent stake and the rest is owned by the general public which is 29.28 per cent.  

On Wednesday, shares of the company surged by 2 per cent and reached its upper circuit limit of Rs 237.7.

Displaying her confidence, she acquired over 50 lakh shares of the company at an average price of Rs 61.65. The same day witnessed another vote of confidence from Think India Opportunities Master Fund LP, a foreign portfolio investor, as they secured 58 lakh shares of the company at an identical average price.