Vinati Organics shares ride high for 3rd day on upbeat Oct-Dec operational show

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February 8, 2023
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Motilal Oswal Financial Services and Centrum Broking have a Buy call for the stock

Shares of Vinati Organics extended their winning streak to the third session on February 8 as investors were buoyed by the company’s upbeat operational performance in the quarter ended December.

At 11.35 am, shares of Vinati Organics traded 4.40 percent higher at Rs 1,972.55 on the National Stock Exchange.

The company had reported its quarterly earnings for the Oct-Dec period on February 6. Despite Oct-Dec being a seasonally weak quarter, the company managed to reap benefits of an expansion in gross margins due to product pricing benefits, lower power and fuel cost, and operational expenditure.

As a result, the company’s EBIDTA margin expanded 710 basis points on year to 32.2 percent in the December quarter. One basis point is one-hundredth of a percent.

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