Kronox Lab Share Price: Kronos Lab closed today at ₹159.35, June 10th, 2024. This represents a strong performance in its first day of trading, closing 17.17% higher than its price of ₹136.
Kronox Share Price exceeded investor expectations, as the stock price even reached a high of ₹165 during the day, a premium of 21% over the IPO price.
Kronox IPO Debut: The Company had a successful IPO debut on June 10th, listing at ₹165 per share, a premium of 21% over the issue price.
This strong outcome reflects the company’s positive pre-IPO buzz, which was fueled by its robust financials and growth potential in the specialty chemicals sector.
Meanwhile, the KROO stock prices also fluctuate during the day, closing slightly lower at ₹159.35. This fluctuation is just because of profit-taking by some investors after the initial surge, as well as some general market volatility.
Kronox Lab Sciences Limited Financial Details:
Kronox Lab Financials: In preparation for their IPO, Kronox Lab’s released financials for the year ending March 31st, 2023, which provide valuable insights into the company’s financial health.
The financials created a positive picture, showcasing year-over-year growth in both revenue and profitability. Increase in revenue demonstrating the company’s ability to grow its sales.
Additionally, profit after tax (PAT) indicating an increase in profitability after accounting for all expenses and taxes. This trend of rising profits suggests that Kronox Labs is not only generating revenue but also effectively managing its costs to translate sales into sustainable profits.
Furthermore, the company boasts a debt-free status, which is a significant strength. Unlike companies with outstanding debt, Kronox Labs is not burdened by interest payments, giving them greater financial flexibility and resilience in the face of economic challenges.
Kronox Lab IPO Performance: The strong investor response to Kronox Lab IPO suggests confidence in the company future potential. The offering was oversubscribed 117 times, indicating significant demand for the shares (Business Standard). This high subscription rate often translates to a strong opening on the stock exchange.
Kronox Lab Sciences Limited is a manufacturer of high-purity specialty fine chemicals for various industries, including pharmaceuticals, scientific research, nutraceuticals, biotech, agrochemicals, personal care, metallurgy, and animal health. Their products are used in a wide range of applications, such as manufacturing APIs, pharmaceutical formulations, scientific research, and more.
Source: kronoxlabsciences, NSE and BSE