Pokarna Ltd, a company which has given bumper returns in the last few months, has presented excellent results in the September 2024 quarter. Apart from this, the company has also announced its capacity expansion. The company gave this information to the market through exchange filing. The shares of the company have given multibagger returns.
Pokarna reported a net profit of Rs 44.96 crore in the September 2024 quarter, up 37.49 per cent on a year-on-year basis. In the current quarter, the company recorded a total revenue of Rs 253.46 crore, which is 24.33 percent higher on an annual basis. The company’s operating profit increased by 22.44 percent to Rs 77.76 crore.
Besides, the company board has also approved for investment of Rs 440 crore in its subsidiary Pokarna Engineered Stone. This amount will be used to expand the capacity of the company’s plant in Mekaguda, Telangana, to meet the current demand. This work will be completed by the fourth quarter of the financial year 2025-26 and if needed, the company can also take a loan for this.
During Thursday’s trading session, Pokarna shares jumped 4.26 percent to reach Rs 1076.10. The total market capitalization of the company was more than Rs 3,200 crore. On Wednesday, the company’s shares closed at the level of Rs 1,032.25. Pokarna shares have jumped 160 percent from their 52-week low. In the last six months, this stock has given returns of up to 120 percent.
The Hyderabad-based company, started in the year 1991, is present in the granite business. The company has presence in 23 countries of the world. Apart from this, the company also does business of sanitary ware and clothes. Its brand in the granite market is ‘Quantra’, while for the clothing business it uses the brand ‘Stanza’.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.