Punjab Chemical hit 52-week-low after reporting 83% fall in Q4 net profit, revenue slips 24%

During today's closing session, the market capitalization of the small-cap company Punjab Chemicals and Crop Protection was ₹923.59 Cr. From producing key chemicals like oxalic acid, Punjab Chemicals is currently engaged with allied pharmaceutical and industrial chemical products.

“The Board has recommended dividend of 30% i.e. Rs. 3/- per equity share on equity shares of Rs.10/- each, subject to approval of members at the ensuing Annual General Meeting. The dividend will be paid / dispatched within 30 days of the Annual General Meeting,” said Punjab Chemicals and Crop Protection in a stock exchange filing.

The company reported revenue from operations of ₹195.04 crore in March 2023 quarter, down by 24.6%YoY from Rs. 258.68 crore in March 2022 quarter. The company said its net expenses stood at ₹185.49 Cr during Q4FY23 as against ₹232.94 Cr during Q4FY22.

Punjab Chemicals and Crop Protection said its net profit reached Rs. 3.20 Cr during the quarter under review down by 83.46% YoY from Rs. 19.35 Cr reported during the year-ago quarter. Its EPS stood at ₹2.61 during Q4FY23 as against ₹15.78 during the year-ago quarter.

After its poor Q4 results, the shares of Punjab Chemicals and Crop Protection hit a fresh 52-week-low of ₹729.10 during afternoon deals and then closed on the BSE at ₹753.20 apiece level down by 5.68% from the previous close of ₹798.55. The scrip touched a 52-week-high of ₹1,449.95 on (02/08/2022). During Q4FY23, Punjab Chemicals and Crop Protection recorded a promoter shareholding of 39.22%, FIIs stake of 2.99%, DIIs stake of 0.98% and a public stake of 56.82%.