Sangam India share has gained around 73% in the last one month. On 1st of October, 2021, the stock closed at Rs 173.15 in NSE. Today on 1st of November, the stock price achieved a closing price of Rs 299.55, an absolute gain of Rs 126.4. It means that someone invested 1 lakh rupees on 1st October, today it has become one lakh 73 thousand rupees.
Sangam India is one of the largest manufacturer of PV-dyed yarn in India. They are an integrated textile player. Their product offerings – Yarn, Woven Fabric, Denim Fabric and Garments – span the value chain.
In the latest, second quarter of the financial year, they have achieved an outstanding result. The revenue has grown more than double from Rs 311 crore in Q2-FY-21 to Rs 635 crore in Q2-FY-22 with an increase of 104% YoY. The company’s EBIDTA is Rs 76.2 crore in Q2-FY-22, which is more than 208% as compared to 24.7 crore in Q2-FY-21.
The company has approved the plan of Rs 137.25 crore brownfield expansion in the cotton yarn segment and successfully completed the financial closure of 102 crore term loan with lenders. The company has also approved the issue of up to 57 lakhs convertible warrants aggregating 103 crore to the promoters group and Smt Madhuri Madhusudan Kela.
As per latest shareholding information, the promoter holds 61.45% share. Today the stock locked at upper circuit of Rs 299.55.