This smallcap hits 5% upper circuit after manifold rise in the Q1 PAT

New Delhi: Shares of Shri Keshav Cements and Infra hit 5 per cent upper circuit to scale a new 52-week high on Friday after the company announced a strong performance for the June 2022 quarter.

The cement and related products firm reported a 410 per cent rise in the net profit to Rs 26.45 crore for the quarter ended on June 30, 2022, as compared to Rs 5.2 crore in the same quarter previous year.

Following the update, shares of Shri Keshav Cements and Infra surged 5 per cent to Rs 139.80 on Friday, its new 52-week high. The scrip settled at Rs 139.80 on Thursday.

The company reported a 22 per cent increase in the income from operations at Rs 32.57 crore as compared to Rs 26.72 crore in the year-ago period.

Last month, the company had announced its expansion plans. It intends to triple its production from 1,100 tonnes a day to nearly one million tonne per annum (MPTA).

Shares of the company have rallied about 135 per cent in the last one year. The scrip has almost doubled investors' wealth in the last six months, the data suggests.

Belagavi-based Shri Keshav Cements and Infra, formerly Katwa Udyog, is engaged in the manufacturing of ordinary portland cement. The company also offers project consultancy for construction.

Incorporated in 1993, the company launched its initial public offering in 1995. It set up and commissioned a 20 MW captive solar plant in Koppal (Karnataka) in March 2018.

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