This chemical stock has doubled investors’ money in a short time, there are still signs of bullishness

new Delhi:Laxmi Organic Industries Ltd., a smallcap specialty chemical manufacturer, is engaged in 3 business segments – Acetyl Intermediates (AI) and Specialty Intermediates (SI) and Emerging Chemistry. This company has fulfilled the dream of every investor, as it has given 120.77 percent return in one year. When the company listed in March 2021, it performed remarkably well. After this, the stock, which traded at a price of Rs 180.95 on 1 April 2021, went up to Rs 399 on 31 March 2022. The company is a part of the S&P BSE Basic Materials Index. This stock has given 4 times higher returns than the index (30% YOY).

According to research conducted by McKinsey & Company, India’s specialty chemicals market is expected to grow from USD 28 billion in 2018 to USD 40 billion by 2025. This macro-economic forecast supports gains in both stocks and indices.

Lakshmi Organic Industries Limited operates in diverse market segments such as pharmaceuticals, agrochemicals, food packaging, pigments and coatings with a wide range of products in specialty ingredients and solvents.

The figures on consolidated basis for the third quarter of FY 2022 released by the company are as follows:
1) The net revenue of the company has increased by 97.44 percent year-on-year to Rs 859.88 crore.
2) The PBIDT (ex OI) of the company has increased by 75.39 percent annually to Rs 118.66 crore. However, the relative margin declined by 173 basis points to 13.80 per cent, due to a sharp two-fold increase in raw material cost.
3) The company’s net profit has increased by 81.59 percent annually to Rs 82.10 crore.
This multibagger share was seen trading at Rs 451.50 at 11 am today. The 52-week high of this stock is Rs 628.05 and the 52-week low is Rs 171.50.
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