700% Rally In 3 Yrs: Multibagger Stock Sets Record Date For 1:1 Bonus Shares

Small-cap company Krishana Phoschem Limited has a market valuation of around Rs 1,500 Cr. Ostwal Phoschem (India) Ltd.'s subsidiary Krishana Phoschem Ltd, additionally, an affiliate of the renowned Ostwal firm conducts business in the agriculture sector. One of the top SSP manufacturers in the country is Krishana Phoschem. The firm currently operates 3 production facilities that have been constructed around Meghnagar in the Jhabua area of Madhya Pradesh. The company manufactures H-Acid & Chemical products such as Sulphuric Acid (SA), Oleum, Coloro Sulphonic Acid, and Liquid SO3 as well as Beneficiated Rock Phosphate (BRP), Single Super Phosphate (SSP), and Dyes Intermediates. In February 2023, the firm started producing phosphoric acid, di-ammonium phosphate (DAP), and nitrogen, phosphorus, and potassium (NPK) complex fertilizers. The company has declared bonus shares in a 1:1 ratio and for the purpose of determining the eligibility of the shareholders the Board of Directors has fixed record date.

"We would like to inform you that Pursuant to regulation 42 of SEBI (Listing obligation and disclosure requirement) Regulation, 2015 company has fixed 25th October 2023 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid-up equity shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) fully paid-up existing equity share of Rs. 10/- (Rupees Ten only) each held, with the approval of shareholders which is being obtained vide ordinary resolution passed at 19th Annual General Meeting dated on 28th September 2023," said Krishana Phoschem in a stock exchange filing.
On Saturday, the company also informed stock exchanges that its Sulphuric acid plant (200 TPD) which was shut down on 27th September 2023 due to annual maintenance has resumed its operations w.e.f. 14.10.2023.

On a standalone basis, the company recorded a net income of Rs 166.32 Cr in the quarter ended June 2023 compared to Rs 67.18 Cr reported in the June 2022 quarter. Its net expenses stood at Rs 141.36 Cr in Q1FY24 as against Rs 59.26 Cr in Q1FY23 and EBIT reached Rs 24.97 Cr compared to Rs 7.92 Cr in the corresponding quarter of the previous fiscal year. Krishana Phoschem said its net profit was Rs 11.88 Cr in Q1FY24 compared to Rs 6.10 Cr in Q1FY23.

On Friday, the shares of Krishana Phoschem closed on the NSE at Rs 501 apiece. The scrip touched a 52-week-high of Rs 559.40 on (02-Mar-2023) and a 52-week-low of Rs 336.05 on (13-Oct-2022), indicating that at the current market price, the stock is trading at a discount of 10.43% from recent 1 year high and at a gain of 49.08% from 1 year low. The multibagger stock has returned 1,291.67% over the past five years and more than 700% over the past three years. The stock has risen 46.36% over the past year, and it has risen 14.31% year to date (YTD) in 2023.