Multibagger Stock: SEL Manufacturing Company Ltd Shares Witnessing Steep Decline
SEL Manufacturing Company Ltd, a textile manufacturing company, is experiencing a significant slump in its share prices for the past few quarters. The company’s shares fell by 2% to 157.70 rupees on Friday. The stock has been consistently declining this year, plummeting by 73% so far.
92% Shares Declined in a Year
It is noteworthy that SEL Manufacturing Company’s shares have fallen by more than 92% in just one year. During this period, the share price went down from 1975 rupees (as of April 28, 2022) to its current price. This means that investors who invested one lakh rupees in the company have suffered a loss of almost 7,000 rupees in just one year. Moreover, the company is in debt, and its trading was suspended for many days last year.
Quarterly Results for December 2022
SEL Manufacturing Company’s losses have increased in the December quarter. The company reported a loss of 45.20 crore rupees in the quarter, while last year’s loss was 28.30 crore rupees in the same period. The company’s sales increased by 21.55% to 142.57 crore rupees in the December 2022 quarter, compared to 117.29 crore rupees in the same period last year. Additionally, the EBITDA was negative at 10.49 crore rupees in the December 2022 quarter, whereas it was 6.04 crore rupees in the same period last year.
Conclusion
As of now, it is unclear when SEL Manufacturing Company’s shares will recover. However, investors should exercise caution before making any investment in the company. It is essential to conduct thorough research and analysis before investing in any stock.
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