Finolex Industries jumps on reporting six -fold rise in Q4 net profit

30 Apr 2012

Finolex Industries is currently trading at Rs. 59.15, up by 5.25 points or 9.74% from its previous closing of Rs. 53.90 on the BSE.

The scrip opened at Rs. 55.50 and has touched a high and low of Rs. 62.90 and Rs. 55.50 respectively. So far 3, 32,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 105.00 on 29-Apr-2011 and a 52 week low of Rs. 42.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 62.90 and Rs. 50.20 respectively. The current market cap of the company is Rs. 736 crore.

The promoters holding in the company stood at 52.39% while Institutions and Non-Institutions held 4.93% and 42.69% respectively.

On the standalone basis, the company has reported a six-fold jump in its net profit at Rs 56.19 crore for the quarter ended March 31, 2012 as compared to Rs 8.77 crore for the same quarter in the previous year. However total income has decreased by 5.23% at Rs 593.00 crore for quarter under review as compared to Rs 625.73 crore for the quarter ended March 31, 2011

Finolex is the largest player in the fragmented and competitive PVC pipes and fittings market in India, with an overall share of around 22%. In addition, its established brand equity and large dealer network have enabled it to capture a significant share of the growing retail PVC pipe market.

Related Finolex Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323