Clariant Chemicals tumbles after reverse turnaround in Q4

Clariant Chemicals (India) tumbled 4.88% to Rs 608.80 at 13:12 IST on BSE after the company reported a net loss of Rs 6.10 crore in Q4 December 2013 as against net profit of Rs 22.05 crore in Q4 December 2012.

The Q4 result was announced during trading hours today, 26 February 2014.

Meanwhile, the S&P BSE Sensex was up 96.70 points or 0.46% at 20,949.17.

On BSE, so far 64,000 shares were traded in the counter as against average daily volume of 12,016 shares in the past one quarter.

The stock was volatile. The stock lost as much as 6.02% at the day's low of Rs 601.50 so far during the day. The stock rose as much as 1.55% at the day's high of Rs 650 so far during the day. The stock had hit a 52-week high of Rs 671.90 on 13 December 2013. The stock had hit a 52-week low of Rs 371.10 on 28 June 2013.

The stock had outperformed the market over the past one month till 25 February 2014, jumping 4.91% compared with the Sensex's 1.33% fall. The scrip had also outperformed the market in past one quarter, advancing 9.28% as against Sensex's 1.2% rise.

The small-cap company has equity capital of Rs 26.66 crore. Face value per share is Rs 10.

Clariant Chemicals (India)'s total income from operations declined 3.37% to Rs 280.60 crore in Q4 December 2013 over Q4 December 2012.

Clariant Chemicals (India)'s net profit surged 64.62% to Rs 166.77 crore on 13.82% growth in total income from operations to Rs 1247.86 crore in the year ended 31 December 2013 (FY 2013) over the year ended 31 December 2012 (FY 2012).

Clariant Chemicals (India)'s sales turnover rose 13.25% to Rs 1213.20 crore in FY 2013 over FY 2012. Considering the sale of Textile, Paper and Emulsions (TPE) business, effective from 1 October 2013, the net sales has gone up by 25.3% over the previous year, on a like-to-like basis, the company said in a statement.

Speaking on the company's financial performance, Dr. Deepak Parikh, Vice Chairman and Managing Director, Clariant Chemicals (India) said, "Clariant's recent business developments are a representation of our accelerated growth plans in the market. India is our key focus region and we plan to invest in the business to explore new opportunities and improve Clariant in India's profitability to provide value to all our stakeholders. We have made tremendous progress during 2013 with the same set of highly dedicated and motivated colleagues, equipments and technology; and this unfolds our operational strength which continues to support us to succeed inspite the challenging economic environment. Our commitment remains steadfast on providing innovative and customer focussed solutions across our businesses, for a win-win situation to all".

Clariant Chemicals (India)'s board of directors at a meeting held today, 26 February 2014, recommended final dividend of Rs 20 per share for the year ended 31 December 2013.

Clariant Chemicals (India) is a specialty chemicals company.

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