Goldman Sachs-owned, DII favourite small-cap stock drops 6% to hit record low after promoter pledges shares; do you own? | Stock Market News

A small-cap stock, backed by global financial giant Goldman Sachs and held by popular domestic institutional investors (DIIs), plunged to a record low in intraday trade on Thursday, February 13, a day after the company disclosed that one of its promoters had pledged shares.

Archean Chemical Industries’ share price crashed as much as 6.13 per cent to hit its all-time low of ₹436 Thursday morning after the company said one of the promoters pledged shares with Bajaj Finance.

“The company has received communication today from one of the promoters, M/s Chemikas Speciality LLP, about the pledge of 11,15,000 equity shares of ₹2 each of the company held by them (2.96 per cent of total holdings of Chemikas Speciality LLP and 0.90 per cent of total equity capital of the company) with Bajaj Finance Limited on 12th February 2025,” Archean Chemical said in an exchange filing post-market hours on Wednesday, February 12.

The small-cap stock opened at ₹450.55 on Thursday against its previous close of ₹464.45 and traded volatile after hitting a record low. Around 11:10 AM, Archean Chemical Industries share price was 2 per cent down at ₹455.25.

Goldman Sachs, DIIs hold stakes in Archean Chemical Industries

According to the December quarter (Q3FY25) shareholding pattern data, foreign portfolio investors (FPIs) held 1,31,38,918 shares, aggregating to 10.65 per cent stake, in the company by the end of the last quarter (Q3FY25).

By the end of the December quarter, Goldman Sachs Funds through Goldman Sachs India Equity Portfolio held 30,38,345 shares or a 2.46 per cent stake in the company.

Domestic Institutional Investors (DIIs), which comprise mutual funds, insurance companies, banks and NBFCs, pension and provident funds, alternate investment funds (AIFs) and development financial institutions, collectively held 2,82,08,506 shares, or 22.85 per cent stake, of the company.

From the mutual funds’ space, Nippon Life India Trustee Ltd (Nippon India Small Cap Fund) held 1.17 per cent, Hdfc Mutual Fund (HDFC Multi Cap Fund) held 1.53 per cent, DSP Small Cap Fund held 3.44 per cent and SBI Small Cap Fund held 6.92 per cent stakes in the company in the December quarter of FY25.

Among the insurance companies, ICICI Lombard General Insurance Company held a 1.06 per cent stake, while Tata AIA Life Insurance Company held a 2.25 per cent stake during the quarter.

However, it cannot be ascertained at this juncture whether these FPIs and DIIs still hold the same stake in the company mentioned above. If applicable, the shareholding pattern data for the March quarter will reveal any changes in their holdings.

Archean Chemical Industries share price trend

The small-cap stock hit a 52-week high of ₹838.20 on February 27 last year. However, it has been under selling pressure since then.

Over the last year, the stock has declined 33 per cent to hit its all-time low. On a monthly scale, the stock has been since December.

Archean Chemical Industries Q3 result

The company reported a profit after tax (PAT) of ₹56.29 crore in Q3FY25, down 44.92 per cent against a profit of ₹102.19 core in the corresponding quarter of the previous financial year.

EBITDA dropped 38.24 per cent year-on-year to ₹96.33 crore from ₹155.98 crore in the same quarter last year.

Total income during the quarter fell 39.8 per cent year-on-year to ₹254.66 crore from ₹422.72 crore in Q3FY24.

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