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With a market valuation of 39.06 Cr, Indo Cotspin Ltd. is a small-cap business that operates in the consumer discretionary industry. Non-woven fabrics, non-woven carpets, non-woven felts, non-woven designer carpets, and non-woven geo-textiles are among the non-woven products that Indo Cotspin exports, manufactures, imports, trades, and supplies. The company also imports products like latex chemicals, textiles, and textile stockpiles, among others. The Board of Directors of the firm will meet on November 30, 2022, to discuss and approve the proposal for a stock split.

The company has said in a stock exchange filing that “In Compliance of Regulation 29(3)(a) of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on 30th November, 2022 at 11:00 A.M. at the corporate office of the Company at DELHI MILSTONE 78 KM,G.T ROAD, NH-44, VILLAGE JHATTIPUR SAMALKHA PANIPAT HARYANA HR-132101 to consider and approve inter- alia, the following matters: (a) consider a proposal for sub-division of the Equity shares of the Company having a face value of Rs. 10/- each in such manner as may be determined by the Board of Directors; and (b) alteration of authorised share capital clause of the Company; subject to such regulatory /statutory approvals as may be required, including the approval of the shareholders of the Company."

The company declared net sales of 1.38 crore in Q2FY23 down 2.82% from Rs. 1.42 crore in Q2FY22. The company declared a net profit of Rs. 0.12 crore in Q2FY23 compared to Rs. 0.04 crore posted in Q2FY22. Indo Cotspin EPS has climbed to Rs. 0.28 in the quarter ended September 2022 compared to Rs. 0.10 per share posted in the year-ago quarter.

The shares of Indo Cotspin Ltd closed today at an upper circuit level of 4.97% at 93.00 apiece, up from the previous close of 88.60. In trade today the stock recorded a total volume of 43,128 shares compared to the 20-Day average volume of 4,881 shares. The stock has produced a multibagger return of 1,600.18% over the past three years and a multibagger return of 602.95% over the past five years. The stock has appreciated by 74.65% over the last year, and on a year-to-date basis, it has climbed by 71.11% in 2022. The stock has produced a multibagger return of 342.86% during the past six months, and it has surged by 76.81% over the past month. For the quarter ended September or Q2FY23 the company reported a promoter stake of 59.21% and a public shareholding of 40.79%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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