Arrow Greentech Limited

Heavy buying witnessed in this shipbuilding stock which gained over 900% in three years

Shares of Arrow Greentech Limited gained over 8.48% today. The stock has witnessed heavy buying activity from investors. Ace investor Porinju Veliyath recently bought a 1.06% stake in the company. The company has announced impressive quarterly results. In the last six months, the stock has gained about 25%.

Arrow Greentech Limited has delivered multi-fold returns to its shareholders in the last three years. During this period, the company’s share price surged from Rs 47.35 on December 04, 2020, to Rs 454.05 on November 30, 2023, representing an increase of over 800% in a three-year holding period. An investment of Rs 1 lakh in this company’s shares three years ago would have grown to Rs 9 lakh today.

Financial Performance
Arrow Greentech Limited reported a strong second quarter for FY24, with net sales growth of 65.83% to Rs 29.12 crore, compared to Rs 17.56 crore in the same quarter last year. The operating profit also experienced a significant increase of 857%. The net profit for the quarter stood at Rs 5.06 crore, which was Rs 0.36 crore in the previous year’s same quarter.

Business Overview
Arrow Greentech Limited which was incorporated in 1992, the founders of this business recognized the advantages of patents and innovation to ensure a sustainable future and widen the customers’ scope into maximum environmental care. The very first Water Soluble Film (now branded Watersol) by Arrow was introduced in the mid-nineties.
Stock Price Movement
Today, the stock opened at Rs 421.55, with a high and low of Rs 470.45 and Rs 421.55, respectively. The stock closed trading at Rs 457.30, which increased by 8.48%. The stock has a 52-week high of Rs 516.40 and a 52-week low of Rs 161.90. The company has an ROCE of 20.9% and an ROE of 14.2%, with a market capitalization of Rs 690 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.