Rs 405 to Rs 2,899: This stock turned into a multibagger in 1 year
The share stood at Rs 404.6 on May 27, 2020. It has zoomed to Rs 2,899.10 today, translating into gains of 614.37 per cent during the period
Tanya Aneja | May 27, 2021 | Updated 18:27 IST
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Share of Balaji Amines has delivered more than 600 per cent returns to its shareholders in the last 12 months. The share stood at Rs 404.6 on May 27, 2020. It has zoomed to Rs 2,899.10 today, translating into gains of 614.37 per cent during the period. In comparison, Sensex clocked 62 per cent in one year.
Rs 5 lakh invested in Balaji Amines share a year ago would have turned into Rs 35.82 lakh today.
Balaji Amines soared 15.49% to Rs 1461.20 after the company s standalone net profit jumped 162.5% to Rs 70.16 crore on 64.5% rise in net sales to Rs 364.73 crore in Q3 FY21 over Q3 FY20.Standalone profit before tax advanced 146% to Rs 91.52 crore in Q3 FY21 over Q3 FY20. Current tax expense jumped to Rs 21.64 crore in Q3 FY21 as against Rs 10.26 crore in Q3 FY20. The result was announced after market hours yesterday, 8 February 2021.
During the quarter ended December 2020, the company s sales volume grew by 33.9% to 28,353 MT from 21,160 MT in the same period last year. Amines volumes stood at 4,952 MT, Amines Derivatives volumes stood at 10,812 MT while Specialty Chemicals volumes stood at 12,589 MT in quarter ended December 2020.