DCM Shriram spurts after good Q1 result

DCM Shriram surged 5.18% to Rs 387.25 at 15:12 IST on BSE after consolidated net profit rose 39.65% to Rs 233.47 crore on 35.16% rise in net sales to Rs 1941.26 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the BSE Sensex was up 70.32 points, or 0.22%, to 32,585.26. The S&P BSE Mid-Cap index was up 64.46 points, or 0.42% to 15,454.03.

On BSE, so far 5.95 lakh shares were traded in the counter, compared with an average volume of 15,823 shares in the past one quarter. The stock hit a high of Rs 404.80 and a low of Rs 365.15 so far during the day. The stock hit a record high of Rs 411.40 on 12 June 2017. The stock hit a 52-week low of Rs 195.85 on 26 December 2016.

The mid-cap company has an equity capital of Rs 32.48 crore. Face value per share is Rs 2.

Commenting on the performance for the quarter, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director, said the company achieved satisfactory results in Q1 June 2017 led by significant volume and profits growth in chemicals and sugar business.

DCM Shriram is an integrated business entity, with extensive and growing presence across the entire agri value chain and chloro-vinyl industry. The company has added innovative value- added businesses in these domains primarily bioseed and fenesta.

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