By Aditya Raghunath
Investing.com -- Garware HiTech Films Ltd (BO: GARW ), a small-cap stock where ace investor Ashish Kacholia has a 2.58% stake has more than doubled in 2021. The stock closed June 9 at Rs 899, up over 115% since its close on December 31, 2020.
Kacholia increased his stake in the company by 0.55 percentage points when he bought 1.28 lakh shares in May to take his stake to 2.58% from 2.03%. The stock, earlier called Garware Polyester, is in the business of manufacturing polyester film.
The company is one of the leading producers of sun control films globally and also it launched automotive paint protection films (PPF) as well recently. Life Insurance Corporation of India (LIC) held a 3.67% stake in the company as of March 31, 2021.
The company reported a 51% increase in profit after tax (PAT) to Rs 31.80 crore for the March 2021 quarter compared to Rs 21.07 crore in the March 2020 quarter. It reported a revenue of Rs 287.74 crore in the March 2021 quarter, up 30.4%from Rs 220.67 crore it reported in the year-ago period. And it reported revenue of Rs 989.03 for the whole of FY21, up 6.9% from Rs 924.83 crore in FY21.
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