AVT Natural Products jumps after augmenting capacity of Kerala factory

AVT Natural Products jumped 5.87% to Rs 34.25 at 14:13 IST on BSE after the company announced expansion of the plant capacity at South Vazhakulam. Aluva factory at Kerala.

The company made announcement during market hours today, 19 October 2015.

Meanwhile, the BSE Sensex was up 153.54 points, or 0.56%, to 27,368.14.

On BSE, so far 18,128 shares were traded in the counter, compared with an average volume of 35,412 shares in the past one quarter.

The stock hit a high of Rs 34.50 and a low of Rs 32.50 so far during the day. The stock hit a 52-week high of Rs 47.20 on 20 October 2014. The stock hit a 52-week low of Rs 25.10 on 27 March 2015.

The stock had outperformed the market over the past one month till 16 October 2015, rising 5.72% compared with 4.82% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 17.26% as against Sensex's 4.33% decline.

The small-cap company has an equity capital of Rs 15.23 crore. Face value per share is Re 1.

AVT Natural Products said that the capacity of the instant tea (continous extractor) plant, located at the company's existing factory at South Vazhakulam, Marampilly Post, Aluva, Kerala has been increased from 600 metric tonne (MT) per annum to 1000 MT per annum with an investment of Rs 4.60 crore. Similarly, the capacity of the 'Caffeine plant' at the above location was increased from 14 MT per annum to 50 MT per annum with an investment of Rs 3.65 crore.

AVT Natural Products' net profit fell 54.6% to Rs 5.81 crore on 12.4% decline in net sales to Rs 79.08 crore in Q1 June 2015 over Q1 June 2014.

AVT Natural Products is a venture promoted by AV Thomas Group, as a strategic diversification from the traditional plantation business. The company is specialized in the extraction of colors and flavors from natural source. Its strategic business units include; Marigold Oleoresins, Spice Oleoresins and Essential Oils and Value Added Teas.

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