Shares of Shree Pushkar Chemicals & Fertilizers hit a 52-week high at Rs 301.10, after rising 11 per cent on the BSE index in Thursday’s trading in an otherwise volatile market with strong earnings expectations. The company is a complete solutions manufacturer of dyestuffs with a diversified product range of dyestuffs, dyestuffs, acids, fertilizers and animal feed additives.
In the past month, the stock is up 51 percent, compared to 5 percent in the S&B Sensex Index. The stock reached a record high of 338 rupees on January 10, 2018.
For the first nine months (April-December) of FY21-22 (9 months of FY22) on a consolidated basis, the company reported a profit after tax (PAT) of Rs 41 crore, up 46 per cent compared to 28 crore. Rs in 9 months of fiscal year 21.
On a consolidated basis, total company size grew by 31 percent during 9 months of FY22 versus 9 months of FY21. The dyes segment grew by 47 percent and revenue from this segment increased by 60 percent in the December quarter. (The third quarter of fiscal year 22) versus the third quarter of fiscal year 21.
Management believes that by the end of this year compared to last year, the company will double its profitability.
The increase in volume is also due to the enhanced volume from Madhya Bharat Phosphates and Kisan Phosphates which the company has acquired in the past. Management is looking forward to growth momentum in the business in general in the coming quarters. However, as revenue increases, management expects operating leverage, the company should slow to forward net profit growth.