On October 15, the shares of Premier Polyfilm, a microcap company, hit their upper circuit limit for the second day in a row. In the last four trading days, the shares have risen by 60%. Today, they closed at Rs 356.85, gaining 20%.
The stock also reached an all-time high of Rs 356.90. With this increase, the company’s market capitalization is now Rs 747.55 crore.
The stock’s lowest price in the last 52 weeks was Rs 119.85, and it has delivered an impressive 150% return over the past year.
Quarterly Results and Business Expansion
Premier Polyfilm recently announced its financial results for the September quarter of FY25. The company’s net profit rose by 44.36% year-on-year to Rs 7.42 crore.
Revenue for the quarter increased to Rs 78.73 crore, which is a 3.52% increase from the previous year. Following these positive results, there has been significant buying activity in the company’s shares.
Additionally, Premier Polyfilm’s board has approved the purchase of industrial land in Tamil Nadu for business expansion.
They also established a factory in Bulandshahr, Uttar Pradesh, in August to produce artificial PVC leather, PVC sheets, films, and knitted fabrics.
Future Plans and Stock Split
Premier Polyfilm has announced a stock split, changing 1 equity share with a face value of Rs 5 into 5 equity shares with a face value of Rs 1 each. The record date for this split is set for November 5.
Overview of Premier Polyfilm’s Business
Premier Polyfilm primarily manufactures flexible PVC flooring, films, and sheets. These products are utilized in various industries such as automotive, healthcare, transportation, and commercial applications.
The company holds a significant share of the vinyl flooring and sheeting market, with an estimated annual growth rate of over 10% for this sector.