February 18, 2024
FII-Backed Multibagger Chemical Stock Approaches Lifetime High Post Q3 2024 Results
Finance Stock Markets Trading

FII-Backed Multibagger Chemical Stock Approaches Lifetime High Post Q3 2024 Results

FII-Backed Multibagger Chemical Stock Approaches Lifetime High Post Q3 2024 Results/Mint

FII-Backed Multibagger Chemical Stock Approaches Lifetime High Post Q3 2024 Results

Kamdhenu Ventures, a chemical stock engaged in paint manufacturing, has emerged as one of the multibagger stocks in the Indian stock market over the past year, delivering impressive returns of around 200%. Notably, some reputable Foreign Institutional Investors (FIIs) have invested in this company, indicating confidence in its growth prospects.

Key Highlights:

  1. Stock Performance: Kamdhenu Ventures’ share price today opened positively, reaching an intraday high of ₹223.30 on NSE. This level is within 10% of its existing lifetime high of ₹245 per share.
  2. Q3 2024 Results: For the quarter ending December 31, 2023, the chemical company reported robust financials. Revenue from operations stood at ₹79.1 Crores, reflecting a 14% YoY increase. EBITDA witnessed a remarkable turnaround, reaching ₹6.2 Crores from a loss of ₹0.10 Crore in the corresponding period of the previous financial year. Profit After Tax (PAT) also turned positive, recording ₹4.1 Crores compared to a loss of ₹3.3 Crores in Q3FY23.
  3. Nine-Month Performance: For the nine months ending December 31, 2023, Kamdhenu Ventures reported revenue from operations at ₹206.6 Crores, marking a 9% YoY increase. EBITDA for this period reached ₹15.1 Crores, a significant improvement from a loss of ₹0.6 Crores in the same period last year. PAT turned positive, registering a profit of ₹9.7 Crores compared to a loss of ₹8.8 Crores in 9MFY23.
  4. FIIs’ Stake: According to the shareholding pattern for Q4 2023, FIIs collectively hold 16.81% of the total paid-up capital of Kamdhenu Ventures. Notable FIIs with stakes in the company include Dovetail India Fund Class 12, Ebene Global Opportunity Fund, Minerva Emerging Opportunities Fund, and Aidos India Fund.

As Kamdhenu Ventures continues to demonstrate positive financial performance and attract the interest of FIIs, the stock appears to have further upside potential in the market.

Avatar
VoM News is an online web portal in jammu Kashmir offers regional, National & global news.

Leave a Reply

Your email address will not be published. Required fields are marked *