The stock which has gained 150 percent in the last one year is once again witnessing a tremendous rise. In the last two days, the stock of Nandan Denim has gained 28 percent. In two days, this stock has increased from Rs. 45.54 to Rs. 59.32. The 52-wk high of this stock is Rs. 59.95, and it is very close to it. In the last one year, the stock has gained more than 137.76%.
company results
If we look at the company’s results, Nandan Denim has seen a significant improvement in profit in July. The company has posted a standalone net profit of Rs 7.49 crore in the June quarter 2024, which is much higher than Rs 1.70 crore in the same quarter last year. Talking about revenue, it has increased by 30% year-on-year to Rs 721 crore, whereas it was Rs 553 crore in the same quarter of the previous financial year.
Company business model
Nandan Denim is India’s leading and the world’s fourth largest denim manufacturer, catering to a large client base of 27 countries and major Indian retailers across the world. Recently, Nandan Denims Limited announced a 10-for-1 stock split. This means that each existing share of Rs 10 will be divided into 10 new shares of Rs 1 each. The record date is yet to be announced.
Company Fundamentals
If we look at the market cap of Nandan Denim, it is Rs 855 crore. If we look at the stock P/E, it is trading at 16.8 as compared to peer companies. Compounded profit growth has been 168% in the last 3 years. The company has a debt of about Rs 330 crore. If we look at the shareholding pattern, the promoters’ stake is 58.46% while FIIs’ holding is 0.60%.
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