430% Gain In 3 Yrs: Chemical Stock To Consider Stock Split Soon

A small-cap company in the chemical industry is Bhagiradha Chemicals and Industries Limited. The stock ended Friday's closing session at Rs 1629.50 a share, recording a market valuation of Rs 1,695.57 Cr. The company has notified stock markets of the Board of Directors' intention to take a quick look at a stock split. After the stock went up by more than 430% in three years and 56% in one year, the company is planning to execute the said corporate action.

"This is to inform that pursuant to Regulation 29(3)(a) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Meeting of the Board of Directors of the Company is scheduled to be held on Tuesday March, 05, 2024, to transact the following business apart from the other items as per the agenda: 1. To consider and approve the proposal of Sub- Division /Split of the Equity Shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the Shareholders and such authorities as may be required under Section 61 of the Companies Act, 2013," said Bhagiradha Chemicals and Industries in a regulatory filing.

"Further, kindly note that, pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time and in terms of Company's Code of Conduct, we hereby inform that, the "Trading Window" for dealing in equity shares of the Company by all the designated person including their relatives of the Company shall remain close with immediate effect i.e. from today February 16, 2024 till Match 07, 2024 (both days inclusive)," informed the company to the stock exchanges.

On a consolidated basis, the company posted a net income of Rs 75.13 Cr in the December 2023 quarter which was Rs 126.50 Cr in the same quarter of the previous fiscal. Its net expenses reached Rs 68.78 Cr in Q3FY24 compared to Rs 109.15 Cr in Q3FY23. The company said its EBIT stood at Rs 6.35 Cr in the quarter ended 31st December 2023 as opposed to Rs 17.34 Cr in the year-ago quarter whereas its net profit was Rs 3.32 Cr in the reporting quarter which was Rs 11.65 Cr in the same quarter of the previous fiscal.

Based in Hyderabad, India, Bhagiradha Chemicals & Industries Limited (BCIL) is a well-managed public limited company committed to producing premium pesticides. The company's production facility is situated 300 km north of Chennai, close to the eastern coastal town of Ongole. It can produce 3250 tonnes of different technical-grade insecticides, herbicides, and fungicides annually that meet international regulations. Over the years, the company has sold its products to over a dozen nations, including the United States of America, Brazil, the United Kingdom, Portugal, Australia, South Africa, China, Germany, Malaysia, and Belgium.