Sagar Cements lost 0.98% to Rs 845 at 14:53 IST on BSE after net profit fell 75.2% to Rs 3.62 crore on 1.5% increase in net sales to Rs 156.77 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 29 May 2017.
Meanwhile, the S&P BSE Sensex was up 74.54 points, or 0.24% at 31,183.82. The S&P BSE Small-Cap index was up 55.06 points, 0.37% at 14,910.19.
On the BSE, 1,825 shares were traded on the counter so far as against the average daily volumes of 10,903 shares in the past one quarter. The stock was volatile. The stock lost as much as 0.98% at the day's high of Rs 845 so far during the day. The stock lost as much as 5.07% at the day's low of Rs 810.05 so far during the day.
The stock had hit a record high of Rs 940 on 16 May 2017 and hit a 52-week low of Rs 553 on 31 May 2016. The stock had underperformed the market over the past one month till 29 May 2017, gaining 0.6% compared with the Sensex's 3.98% rise. The scrip had, however, outperformed the market over the past one quarter advancing 9.95% as against the Sensex's 8.23% rise.
The small-cap company has equity capital of Rs 20.40 crore. Face value per share is Rs 10.
Commenting on the company's financial performance, Sreekanth Reddy, Executive Director, Sagar Cements, said that, the financial year 2017 had been a constructive year for the company, a year wherein it has undertook several strategic measures which would serve as a strong catalyst for future value creation of the company.
Some of the key decisions include acquisition of a grinding unit and its expansion, fund raising via qualified institutional placement (QIP) and issuance of preference shares and setting up of captive thermal and solar power plants, Sreekanth said.
Sreekanth further added that QIP and issuance of preference shares provides the company with the growth capital and meet the funding requirement for the acquisition of grinding unit and setting up of captive power plants without stretching the company's balance sheet.
The company's board recommended a dividend of Rs 1.50 per share for the financial year ended March 2017.
Sagar Cements is engaged in manufacturing of cement.
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