The Mehta Group is a global enterprise with operations across Asia, Europe, North America, and Africa, engaged in a diverse range of activities. Their business interests encompass sectors like cement, building materials, sugar, packaging, electrical cables, engineering, consultancy, management & financial services, international trade, floriculture, and horticulture.
In India, their branch “Saurashtra Cement Limited” (SCL) markets cement under the brand name “HATHI”. SCL is known for its high-quality cement products, including Portland Pozzolana Cement (PPC), Ordinary Portland Cement (OPC), and clinker, meeting stringent quality standards. The company has received recognition for energy efficiency and operates in both domestic and international markets.
Furthermore, the company expanded into the paint business by acquiring the “Snowcem” Paint brand. This addition to its portfolio has allowed SCL to diversify it’s business and venture into the paints industry. Snowcem, known for introducing “Cement Paints” for exteriors, offers a range of quality paint products. This strategic move has broadened SCL’s business scope, making them a player in both the cement and paint sectors across India.
Saurashtra Cement Ltd recently announced their stellar Q1FY24 results in which sales of the company surged by 11% and stood at Rs 446 crore as against Q1FY23, while EBITDA surged by 107% to Rs 31.2 crore as against Q1FY23. Similarly, the net profit of the company surged significantly by 236% and stood at Rs 12.2 crore as compared to Q1FY23. Furthermore, the company has been able to grow its sales by 39% (CAGR) for the past 3 years.
The company has delivered returns of 20% over the past year and returns of 72% over the past 3 years.
On Tuesday, shares of the company plunged by 2.04% and traded at Rs 69.
Investors should keep a close eye on this trending stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.