During Friday’s trading session, the shares of a company engaged in the manufacturing of Tarpaulins and Geomembranes hit a 2 percent lower circuit at Rs. 77.97 on BSE.
With a market cap of Rs. 65.05 crores, the shares of Texel Industries Limited opened in the red at Rs. 77.97, as against its previous closing price of Rs. 79.56.
Shareholding Pattern:
As per the October 2024 shareholding pattern, the Promoters hold a 28.16 percent stake in the company, while Retail Investors hold a 71.83 percent stake in Texel Industries.
According to the 23rd October regulatory filings with the BSE, the ace investor Ashish Rameshchandra Kacholia bought around 10.45 lakh equity shares, representing an 8.71 percent stake in Texel Industries, via preferential allotment.
Financials:
Texel Industries reported a marginal rise in revenue from operations, experiencing a year-on-year increase of nearly 12 percent, rising from Rs. 24.93 crores in Q2 FY24 to Rs. 27.85 crores in Q2 FY25. Similarly, during the same period, the company’s net profit increased from a loss of Rs. 2.2 crores to a profit of Rs. 0.85 crores.
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Stock Performance:
The stock has delivered positive returns of nearly 54.5 percent in one year, as well as around 90 percent returns in the last six months. So far in 2024, the shares of Texel Industries have given positive returns of about 45.6 percent.
About the company:
Established in 1989, Texel Industries Limited is engaged in the business of manufacturing geosynthetic textile products. The company manufactures a wide range of Geosynthetic Textile products which include geomembranes, geotextiles and ground covers among others.
Its products are used in agriculture, aquaculture, horticulture, animal husbandry, civil engineering, water harvesting, water conservation and disaster relief, landscaping, transportation, pollution control and waste management.
Written by Shivani Singh
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