Hindcon Chemicals stock locks at 5% upper circuit after making its way on Main Board of NSE

he Company has reported resilient financial results for FY 2021, where the Consolidated PAT for FY 2021 has increased by 59% to Rs. 4.52 Cr. as against Rs. 2.84 Cr. in FY 2020.

Jul 06, 2021 12:07 IST India Infoline News Service

In a short span of three years, Hindcon Chemicals shines yet again, migrates from NSE Emerge to the Main Board of NSE. On Tuesday, Hindcon is locked at the upper circuit on NSE.

Sanjay Goenka, Chairman & Managing Director, Hindcon Chemicals Limited, “Hindcon was built when the construction chemical industry was in its nascent stage. Continuous evolution with strong ethics and sustainable business practices, have helped us in achieving great feats in a relatively smaller timeframe. We take this opportunity to thank all our stakeholders for their relentless support and we assure to continue meeting expectations of all in the future too. With an ever-expanding product portfolio and a long term expansion horizon, Hindcon has achieved another benchmark by migrating to the main trading window of NSE. It is certainly a proud moment for the entire Hindcon family. Backed with environment-friendly methodologies, we pledge to uphold the interest of our customers foremost and mankind at large, always and every time.”

In its regulatory filing, the company highlighted that Hindcon is treading the path to progress with firm belief and utmost optimism. Testimony to this is the annual results of the company released recently. The Company has reported resilient financial results for FY 2021, where the Consolidated PAT for FY 2021 has increased by 59% to Rs. 4.52 Cr. as against Rs. 2.84 Cr. in FY 2020.

Based on the FY21 result, the Consolidated EPS of the company stood at Rs5.89 per share as compared to Rs3.71 in the prior fiscal year.

Hindcon said that with a healthy cash flow in its stride, the company has become a debt-free company. With a glorious past and a promising future, we are sure it will be among the good performing companies listed on our bourse.

Dealing in construction chemicals, Hindcon is spread across categories such as waterproofing additives, plasticisers used in mortar mix, concreting aids, protective roof coatings, cleaning compound chemicals, floor topping products, foundry aid, sealant products, ready to use plaster, tile adhesives, and sodium silicate, which find - wide application in the construction and pharmaceutical industries.

At around 12.09 pm, Hindcon traded at the upper price band of Rs43.80 per piece up by 4.91% on NSE. 

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