This speciality chemical stock is among the top gainers on September 19

5paisa Research Team 19th September 2022 - 12:49 pm

The stock is up 3.72% on the day.

On September 19, the market is trading flat. At 12.07 pm, the S&P BSE Sensex is trading at 59198.14, 0.61% up on the day. On the sectoral front, Financials is the top gainer, while Telecom and Realty are among the top losers for the day. About stock-specific action, Fairchem Organics Ltd is among the top gainer in BSE group ‘A’.

The shares of Fairchem Organics Ltd surged 3.72% on September 19, as of 12:07 pm and are trading at Rs 2215.85. The stock opened at Rs 2280 and so far, has made an intraday high and low of Rs 2293.25 and Rs 2185, respectively.

Fairchem Organics Ltd is engaged in the business of manufacturing niche speciality chemicals like dimer acid and linoleic acid, which find application in industries like paints, printing ink, polyamides and adhesives.

The company has its manufacturing plant located in Chekala, Gujarat. The plant has an installed capacity of 120,000 MTPA. For FY22, the company reported a sale of Rs 643 crore, a 62% YoY increase, while net profit grew by 63% YoY from Rs 56 crore to Rs 91 crore. For the June quarter, the company’s revenue stood at Rs 255 crore, a 62% YoY improvement from Rs 139 reported in Q1FY22. For the same quarter, the net profit improved by 20% YoY from Rs 30 crore in Q1FY22 to Rs 36 crore.

As per the FY22 period ending, the company has ROE and ROCE of 33.8% and 37.8%, respectively. The company also has a decent dividend yield of 0.58%.

About the shareholding pattern, 58.88% of the stake is owned by the promoter, 6.15% by FIIs, 5.46% by DIIs, and the rest 29.5% by the non-institutional investors.

The company has a market capitalisation of Rs 2944 crore and is trading at a PE multiple of 40.5x. The stock has a 52-week high and low of Rs 2293.25 and Rs 1197.95, respectively.

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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