Meghmani Finechem stock hit a 52-week low of Rs 810.60 on March 29, 2023 and a 52 week high of Rs 1736.60 on September 20, 2022. Shares of Meghmani Finechem Ltd zoomed 15% today after the chemical manufacturer fixed record date for Tuesday, June 20, 2023 as record date for final dividend. The firm declared final final dividend of Rs 2.5 per share for the last fiscal. The stock climbed 15.3 per cent to Rs 1105 against the previous close of Rs 958.35 on BSE. Market cap of the firm rose to Rs 4,527 crore. Meghmani Finechem stock has been gaining for the last two sessions. In the current session, Meghmani Finechem stock opened at Rs 960 on BSE.
Market cap of the firm rose to Rs 4527.93 crore. Total 0.48 lakh shares changed hands amounting to a turnover of Rs 5.09 crore on BSE. However, Meghmani Finechem stock has lost 27.38% in a year and fallen 12.58% in 2023. Meghmani Finechem stock hit a 52-week low of Rs 810.60 on March 29, 2023 and a 52 week high of Rs 1736.60 on September 20, 2022.
In terms of technicals, the relative strength index (RSI) of Meghmani Finechem stood at 55.7, signaling it's trading neither in the overbought nor in the oversold zone. Meghmani Finechem stock has a one-year beta of 0.8, indicating low volatility during the period. Meghmani Finechem shares are trading higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
In the March 2023 quarter, the firm reported a 22.57% fall in profit to Rs 76.73 crore against Rs 99.09 crore profit in the corresponding quarter of previous fiscal. Revenue climbed 12.73% to Rs 562.18 crore in the March quarter against Rs 498.80 crore in the March 2022 quarter. Operating profit declined 11.67% to Rs 154.67 crore for the quarter ended March 2023 against Rs 175.11 crore in the corresponding quarter of the previous fiscal.
On an annual basis, net profit zoomed 39.76% to Rs 353.29 crore for the fiscal ended March 2023 against Rs 252.79 crore for the fiscal ended March 2022. Revenue climbed 41.10% to Rs 2188.40 crore in the March 2023 fiscal against Rs 1550. 94 crore for the fiscal ended March 2022. Operating profit rose 35.22% to Rs 688.94 crore for the fiscal ended March 2023 against Rs 509.49 crore in the previous fiscal.
Meghmani Finechem Limited (MFL) is a manufacturer of essential chemicals. The company is engaged in manufacturing and selling of Chlor Alkali & its Derivatives. It is also engaged in the trading of agrochemical products. The company manufactures a range of products: caustic soda, caustic potash, chlorine, hydrogen, chloromethanes, and hydrogen peroxide.