About the company- Leading Supplier of Premium Polymers:
Bhansali Engineering Polymers Limited (BEPL) has pioneered in manufacturing international quality Acrylonitrile Butadiene Styrene (ABS). BEPL is a company that takes pride in being the lowest cost producer of ABS in India with quality standards ‘at par’ with the Global Best. The Company has joined hands with Nippon A&L Inc. (NAL), Japan for expanding its business of Styrenics Resins and supports the sale of ABS Resins, AES Resins, ASA Resins and their alloys with other plastics in the Indian Market. The joint venture with NAL makes BEPL the single most indigenous Company in this segment. BEPL is proud to be the leading suppliers of premium polymers.
Stock Performance from March lows:
The stock has recovered more than 40% from the March lows and on Monday as well, the stock is trading with gains of 0.50%. With the strong recovery from the lower levels of March, the stock has managed to reclaim its all key short- and medium-term moving average. Interestingly, all the moving averages are trending higher.
Recent Update Related to Board Meeting:
In their recent update, company informed that the meeting of Board of Directors scheduled to be held on May 14, 2023 is postponed and re-scheduled to be held on May 21, 2023. The Board will consider declaration of final dividend and Bonus of Equity shares of the company, subject to requisite approvals.
Reason for Re-scheduling of Board Meeting:
In an earlier intimation on May 02, 2023, the Board had only two items to consider Audited Financial Results and Bonus Equity Shares of the company, however, the reason for re-scheduling is that the Board will also consider the matter related to declaration of Final Dividend for Financial Year 2022-23.
The stock in the long term i.e. a period of three years has delivered multibagger returns of 238% and in the last one-year the stock is up by 11%.