A small-cap company with a market valuation of Rs. 535.95 crore, Bhima Cements Ltd. operates in Construction Materials industry. The firm has established a cement plant at Ramapuram village in Nalgonda district of Telangana for more than 2 decades. The company has captive mines with proven reserves of 127 million tonnes. Bhima Cements Limited has a production capacity of 0.9 million tonnes per annum.
The company said in a stock exchange filing today that “Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, December 02, 2022 at 05:00 PM. Sub-sub-sections of the Equity Shares of the Company of face value Registered office of the company to consider and approve the proposal for division 10/- each, in such manner as may be prescribed by the Board of Directors, subject to regulatory / statutory approvals as may be required and approval of the shareholders of the Company.
The company has also informed the stock exchanges that it will re-appoint Mr. Kuchampudi Srinivasa Upendrasaketh Varma as Whole Time Director and Mr. Kandula Prasanna Sai Raghuveer as Managing Director of the company for a period of 2 years Will do In the ensuing Annual General Meeting, subject to the approval of the members.
In Q2FY23, the company reported a net loss 18.93 crore as against a net loss of Rs. 11.13 cr were posted in Q2FY22. in comparison 11.28 Cr reported in Q2FY22, the firm recorded a net expense of Rs. 17.33 crore in Q2FY23. The company did not register any sales record in the quarter ending September 2022 and also in the year-ago quarter. In Q2FY23, the company’s earnings per share was lower -5.81 from Q2FY22’s -3.93 per share.
Trading ended on Friday in shares of Bhima Cements Ltd. 166.50 a piece, up 0.24% from its previous close 166.10. The stock had a total volume of 24,869 shares in the most recent trading session, as against the 20-day average volume of 24,563 shares. The stock has given multibagger returns of 1,007.05% in the last five years, and on a year-to-date basis in 2022, it has given multibagger returns of 1,061.90%. For the quarter ending September 2022 or Q2FY23, the company reported promoter holding of 75%, FII holding of 1.78%, DII holding of 0.53% and public holding of 22.69%. During its last closing session, the stock was seen trading above the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day Simple Moving Averages (SMA). The stock touched a 52-week high 173.00 (14/10/2022) and at 52-week low 13.65 at (16/03/2022), indicating that the stock is trading 5% below high and 1104.02% above 1 year low at current market price.
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