Tatva Chintan Pharma hits record high after robust Q2 performance
Shares of Tatva Chintan Pharma hit a record high of Rs 2,488.90 in intraday as its net profit jumped 811% to Rs 32.4 crore.
Tatva Chintan Pharma jumped 11.26% to Rs 2,372.05 after the company reported an 811% jump in consolidated net profit to Rs 32.4 crore on a 105.8% rise in revenue from operations to Rs 123.6 crore in Q2. On a sequential basis, the company posted a 40% rise in net profit on a 15.7% increase in revenue from operations to Rs 1,236.15 crore in Q2 FY22 over Q1 FY22. Profit before tax jumped nearly 46% quarter on quarter and 527% year on year to Rs 35.4 crore in Q2 FY22.
Tatva Chintan Pharma Chem is a specialty chemicals manufacturing company engaged in the manufacturing of a diverse portfolio of structure-directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for supercapacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC). It is the largest and only commercial manufacturer of SDAs for zeolites in India.
Shares of Tatva Chintan Pharma hit a record high of Rs 2,488.90 in intraday today. From its IPO price of Rs 1,083, the stock has given a return of 119%.
Shares of Tatva Chintan Pharma Chem entered bourses on 29 July 2021. The scrip was listed at a price of Rs 2,111.80 per share, at a premium of 95% to the initial public offer (IPO) price of Rs 1,083. The IPO of specialty chemicals manufacturing company received bids for 58.83 crore shares as against 32.61 lakh shares on offer. The issue was subscribed 180.36 times. The issue opened for bidding on 16 July 2021 and closed on 20 July 2021. The price band of the IPO was fixed at Rs 1073-1083 per share.