Ddev Plastiks share price jumps 130% in three months; should you buy, sell or hold?
₹61.53 crore. In the fourth quarter of 2023-2024, the company's revenue declined 10.49% from the same time prior year, to ₹605.22 crore. "We achieved a remarkable 52% EBITDA growth yoy expanding the margin to 12% in FY24; this has been the first year post the de-merger we were able to record a double-digit EBITDA margin and aim to sustain it in the coming years as well.
In the current fiscal net profit grew substantially by 75% to ₹182 crore, solidifying our strong financial performance," said Narrindra Suranna, Chairman and Managing Director of the company. Also Read: Stock market news: Paytm share price jumps 30% in one week. More steam left?Following the Q4 results, domestic brokerage PhillipCapital India lifted the target price to ₹334 from ₹321 before; nevertheless, Ddev Plastiks Industries share price has surpassed this level in over 20 days, trading at ₹384.70 per share on the BSE.
The brokerage maintained ‘buy’ rating for the stock. As of Q4FY24, the firm is net debt-free. They now have working capital debt of ₹66 crore.On Thursday's session, Ddev Plastiks Industries share price opened at ₹388.50 apiece on BSE, the stock touched an intaday high of ₹391.95, and an intraday low of ₹375.
Ddev Plastiks share price has gained 158% in one year. “Ddev Plastiks share price has seen a sharp surge in price post its Q4 results announcement. It is trading firmly above all the major moving averages and all the momentum indicators are showing that it is trading in an overbought zone.
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