Alcohol stock hits 10% upper circuit:
Tuesday’s trading session, the shares of a micro-cap company hit a 10% upper circuit on BSE at Rs. 19.29, after reporting financial results for Q1 FY24-25 with a rise in the net profit by 285 percent QoQ and 137 percent YoY.
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the Bombay Stock Exchange (BSE) on Monday post-market hours.
The consolidated income from operations for Q1 FY24-25 stood at Rs. 45.3 crores, marking a 53 percent YoY rise from Rs. 29.6 crore in Q1 FY23-24, but a 35.8 percent decline quarter-on-quarter from Rs. 70.55 crore in Q4 FY23-24.
The net profit jumped by 137 percent YoY to Rs. 3.08 crore in Q1 FY24-25, as against Rs. 1.3 crore in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 285 percent from Rs. 0.8 crore in Q4 FY23-24.
The company’s Board recommended a final dividend of Rs. 0.07 per equity share of face value of Re. 01 each for the financial year ended March 31, 2024, subject to the approval of the shareholders.
Further, Comfort Intech is exploring the proposal to expand the Liquors segment in other states, while exploring more opportunities.
Shareholding Pattern:
As per the shareholding pattern of June 2024, the Promoters hold a 57.46 percent stake in the company, while Retail Investors hold a 42.54 percent stake in Comfort Intech.
Stock performance:
The stock has delivered multibagger returns of nearly 334.5 percent in one year as well as around 113 percent returns in the last six months. So far in 2024, the shares of Comfort Intech have given about 107.4 percent of multibagger returns.
About the company:
Incorporated in 2000, Comfort Intech Limited is engaged in carrying on the business as distillers, manufacturers, procurers, importers, exporters, agents, brokers, suppliers, processors, vendors, bottlers, distributors, stockists, dealers, godown keepers, C&F Agents, del-credere agents, marketers, merchandisers, wholesalers of all types of spirits, including India Made Foreign as well as Country, Beverage and others similar products.
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