Mallcom (India) Stocks Rallied 4% In One Day!

Mallcom (India) and KJN Housing LLP have entered into a Joint Development Agreement registered on June 21, 2023, for developments of its land parcel admeasuring about 5 Bighas 9 Cottah 3 Chittacks at Premises No. 34B and C, Chandra Nath Roy Road, Kolkata, West Bengal.  

The company will be entitled to receive 30% of the net sale revenue from the said Project and the remaining 70% of the net sale revenue of the Project shall be paid to M/s KJN Housing LLP in accordance with the Joint Development Agreement. 

Mallcom India Limited was founded in 1983 by Ajay Mall as a small leather gloves manufacturer headquartered out of Kolkata, India. Today it has grown to become one of the largest manufacturers and distributors of Personal Protective Equipment (PPE) products in India, with over 90% of orders coming from repeat customers.  

Today, the stock opened at Rs 1078, with a high and low of Rs 1102.40 and Rs. 934.40 respectively. The stock closed trading at Rs 958, up by 4.25%. However, in the last 6 months, the shares of the company have given more than 45% returns, and on a YTD basis, the stock has given about 33% returns.  

In Q4FY23, Mallcom India Limited achieved its highest-ever consolidated revenue of Rs 113 crore, marking a 13% increase compared to the previous quarter and a 6% increase compared to the same quarter of the previous year. The net profit after tax for Q4 stood at Rs 10 crore, reflecting a 9% decline compared to the previous quarter but a 5.4% increase compared to the same quarter of the previous year. 

The stock has shown tremendous growth and investors should keep a close eye on this stock.