Multibagger laminates stock hits record high; zooms 7% intraday

Shares of multibagger Stylam Industries Ltd hit a record high today. The small cap stock zoomed 7.27% to a high of Rs 1719 against the previous close of Rs 1602.55 in the afternoon session on BSE. Stylam Industries stock opened marginally higher at Rs 107 today on BSE. The stock of the laminates maker has rallied over 1341% in the last three years. The smallcap stock, which closed at Rs 119.28 on May 29, 2020 rose to a high of Rs 1719 on the BSE today (June 1, 2023).

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An amount of Rs 1 lakh invested in the shares of Stylam Industries three years ago would have turned into Rs 14.41 lakh today. In comparison, Sensex has risen 88.21 per cent during the period.

In terms of technicals, the relative strength index (RSI) of the Stylam Industries stock stands at 75.9, signaling it's trading in the overbought zone. Stylam Industries shares have a beta of 0.7, indicating low volatility in a year. Stylam Industries shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has risen 90.77% in one year and gained 51% since the beginning of this year. The share has climbed 46.49% in a month. Total 3867 shares of the firm changed hands amounting to a turnover of Rs 64.67 lakh on BSE. Market cap of the firm rose to Rs 2,866 crore on BSE.

Six promoters held 54.61 per cent stake or 92.55 lakh shares in the firm and 13,907 public shareholders owned 45.39 per cent for the quarter ended March 2023. Of these, 12914 resident individuals held 26.03 lakh shares or 15.36% stake with capital up to Rs 2 lakh. Only eight resident individuals with 5.26% stake held capital above Rs 2 lakh for the quarter ended March 2023. 307 NRIs held 2.26% stake or 3.83 lakh shares in Q4 of the last fiscal.

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Financial Performance

In the March 2023 quarter, the firm reported a 61.29% rise in profit to Rs 26.79 crore against Rs 16.61 crore profit in the corresponding quarter of previous fiscal. Revenue climbed 31.80% to Rs 236.83 crore in the March quarter against Rs 179.69 crore in the March 2022 quarter. Operating profit zoomed 103.67% to Rs 40.53 crore for the quarter ended March 2023 against Rs 19.90 crore in the corresponding quarter of the previous fiscal.

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On an annual basis, net profit zoomed 57.63% to Rs 95.98 crore for the fiscal ended March 2023 against Rs 60.89 crore for the fiscal ended March 2022. For the fiscal ended 2021, net profit stood at Rs 55.11 crore.

Revenue climbed 44.40% to Rs 952.13 crore in the March 2023 fiscal against Rs 659.35 crore for the fiscal ended March 2022. For the fiscal ended 2021, sales stood at Rs 475.85 crore.

About the Company

Stylam Industries is engaged in manufacturing of laminates, solid surface panels and allied products. The company’s products include high-pressure laminates, performance laminates (HPL), specialty laminates, exclusive surfaces, acrylic solid surfaces and compact laminates. Its high-pressure decorative laminates are available in a range of colors in solids and woodgrains designs, many evergreen and new texture finishes. Its performance laminates products include electrostatic dissipative laminates (ESD), chemical resistant laminates and fire retardant laminates.

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