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Tuticorin Alkali Chemicals Soared 35% in 2 Days!

25 May 20232 mins read by Angel One
Company had given multibagger return of more than 175% in just one year.
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As the season of financial results is on, Tuticorin Alkali Chemicals and Fertilizers Ltd has reported results for Q4FY23 and year ended March 31, 2023, yesterday.             

In comparison to the same quarter last year, the company’s net profit for the fourth quarter which ended on March 31, 2023, increased by 230.92% to Rs 48.48 crore from Rs 14.65 crore. In Q4FY23, the company’s total net revenue increased by 57.80% from Rs 85.04 crore to Rs 134.19 crore in a similar quarter the year prior.           

In comparison to last quarter, the company’s net profit for the fourth quarter, increased by 175.61% to Rs 48.48 crore from Rs 17.59 crore. In similar period, the company’s total net revenue decreased from Rs 148.51 crore to Rs 134.19 crore.      

The company reported a 397.88% increase in net profit for the year ended March 31, 2023, from net loss of Rs 33.97 crore to net profit of Rs 101.19 crore. When compared to the year ended March 31, 2022, the company’s net revenue increased by 29.02% to Rs 515.09 crore from Rs 180.57 crore in the year prior ended on March 31, 2022.     

Also read: Royal Orchid Hotels Stocks Soared 4%

In the trading session on May 23, 2023, the scrip closed at Rs 54.19. Yesterday it opened at Rs 55.75 and closed at Rs 65.02, up by 19.99%. Today it opened at Rs 70 and currently it is trading at Rs 73.10 up by 12.43% and up by 34.90% from closing of May 23, 2023. Company has given multibagger return of more than 175% over the past year.   

The BSE group ‘X’ stock has a market cap of around Rs 790 crore. It has a 52-week high of Rs 78.90 and 52-week low of Rs 23.40.   

Tuticorin Alkali Chemicals and Fertilizers Limited (TFL) produces all grades of Soda Ash and coproduces Ammonium Chloride Fertilizer. It is located at Tuticorin, Tamilnadu contiguous to SPIC Fertilizer Plant. TFL is the only producer of Soda Ash in the South India. It has adopted an eco-friendly dual process, co-producing Ammonium Chloride Fertiliser.

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