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The shares of Duroply Industries Limited opened at Rs 182.50 as against its previous close of Rs 173.85 and got locked in the upper circuit of 5 per cent on Thursday’s trading session. In the past month, the stock has gained more than 11 per cent. So far this year the stock has gained approximately 48 per cent YTD. 

Ace investor Porinju Veliyath and his wife Litty Thomas have picked additional 1.58 lakh shares or a 2.12% stake in the company via preferential allotment. This raised the investor duo’s shareholding in the micro-cap company to 7.01% from 4.89% earlier. 

In September 2020, the shares of the company were trading at Rs 31.90 a piece on BSE. From there it has spiked up to the current levels thereby logging a multibagger return of 472 per cent in two years. In a year’s time frame the stock has given a multibagger return of 113 per cent. 

If an investor would have invested Rs 1 lakh in the shares of the company their investment would be worth Rs 5.72 lakhs in just two years. 

Duroply Industries Ltd is primarily engaged in the manufacturing and sale of Plywood, decorative veneers, block boards, doors, etc. The products are sold under the company’s own established brand “DURO”. 

In Q1FY23, the company earned a total revenue of Rs 71 crores which was an increase of 103 percent from Rs 35 crores in the same quarter a year earlier. In the quarter under review, their net profit stood at Rs 1 crores as against a loss of Rs 2 crores in Q1FY22. 

The company has a market capitalization of Rs 136 crores and the promoters hold a 63.09 percent stake with 8.97 percent pledged. 

Written by Anoushka Roy

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