Laxmi Organic Industries announced that India Ratings has upgraded the Company's long-term bank loan rating to 'IND AA' from 'IND AA-' with a Stable Outlook while affirming the short-term bank loan rating at 'IND A1+'.Powered by Capital Market - Live

CRISIL Ratings stated that the rating reflects LOIL's healthy business risk profile backed by strong market position across two verticals, essentials and specialty chemicals, diversified end user industries base resulting in low customer concentration risk and its healthy financial risk profile. These strengths are partially offset by susceptibility to fluctuations in input prices and exposure to risk pertaining to timely execution of the large capital expenditure (capex) being undertaken. LOIL's financial risk profile continues to remain healthy, supported by comfortable capital structure and debt protection metrics. The agency further said that a significant increase in scale of operations leading to increase in operating margins and ROCE over 20% on sustained basis; and sustenance of strong financial risk profile, robust debt metrics and healthy liquidity could lead to a rating upgrade. However, sluggish revenue growth and decline in operating margin below 8-9% on a sustained basis; sizeable additional debt-funded capex or acquisitions or stretched working capital cycle materially impacting the debt metrics; and significant delay in commissioning new projects resulting in major cost overrun could lead to a rating downgrade. Laxmi Organic Industries commenced manufacturing acetic acid at Mahad, Maharashtra, in 1991. It has diversified into other products and now primarily manufactures ethyl acetate, acetic acid and diketene derivative products (DDP). The scrip fell 1.05% to currently trade at Rs 249.95 on the BSE. Powered by Capital Market - Live

Laxmi Organic Industries announced that CRISIL has assigned its 'CRISIL AA/Stable' rating to the Company's bank facilities and 'CRISIL A1+' rating to its commercial paper programme. Powered by Capital Market - Live

Laxmi Organic Industries has allotted 3,42,201 equity shares under ESOP on 13 December 2024. After allotment of aforesaid equity shares, the share capital of the Company stands increased from Rs 55,33,63,224 to Rs 55,40,47,626.Powered by Capital Market - Live

Net profit of Laxmi Organic Industries rose 162.28% to Rs 28.09 crore in the quarter ended September 2024 as against Rs 10.71 crore during the previous quarter ended September 2023. Sales rose 18.24% to Rs 771.25 crore in the quarter ended September 2024 as against Rs 652.27 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales771.25652.27 18 OPM %9.685.97 - PBDT73.7045.08 63 PBT46.2517.53 164 NP28.0910.71 162 Powered by Capital Market - Live

Laxmi Organic Industries will hold a meeting of the Board of Directors of the Company on 29 October 2024.Powered by Capital Market - Live

Triveni Turbine Ltd, Chemplast Sanmar Ltd, Abbott India Ltd, DCM Shriram Ltd are among the other stocks to see a surge in volumes on NSE today, 08 August 2024.Laxmi Organic Industries Ltd notched up volume of 127.03 lakh shares by 14:14 IST on NSE, a 10.54 fold spurt over two-week average daily volume of 12.05 lakh shares. The stock rose 5.14% to Rs.269.95. Volumes stood at 10.99 lakh shares in the last session.Triveni Turbine Ltd saw volume of 87.25 lakh shares by 14:14 IST on NSE, a 7.84 fold spurt over two-week average daily volume of 11.13 lakh shares. The stock increased 5.87% to Rs.676.00. Volumes stood at 31.67 lakh shares in the last session.Chemplast Sanmar Ltd notched up volume of 23.98 lakh shares by 14:14 IST on NSE, a 6.36 fold spurt over two-week average daily volume of 3.77 lakh shares. The stock slipped 5.61% to Rs.530.30. Volumes stood at 8.51 lakh shares in the last session.Abbott India Ltd saw volume of 71683 shares by 14:14 IST on NSE, a 5.89 fold spurt over two-week average daily volume of 12160 shares. The stock dropped 3.16% to Rs.27,247.65. Volumes stood at 16507 shares in the last session.DCM Shriram Ltd saw volume of 8.59 lakh shares by 14:14 IST on NSE, a 5.84 fold spurt over two-week average daily volume of 1.47 lakh shares. The stock increased 5.24% to Rs.1,148.45. Volumes stood at 3.65 lakh shares in the last session.Powered by Capital Market - Live

Revenue from operations stood at Rs 718.17 crore in Q1 FY25, down 1.52% from Rs 729.22 crore recorded in the corresponding quarter last year. Profit before tax declined 3.14% year on year to Rs 53.98 crore in the quarter ended 30 June 2024. Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates with almost three decades of experience in large scale manufacturing of chemicals. Powered by Capital Market - Live