Emmbi Industries advances after incorporating LLP

Emmbi Industries gained 2.97% to Rs 188.70 at 11:00 IST on BSE after the company said that it has incorporated a Limited Liability Partnership in the name of Emmbi WatCon LLP.

The announcement was made after market hours yesterday, 29 June 2017.

Meanwhile, the S&P BSE Sensex was down 74.96 points or 0.24% at 30,782.56. The BSE Small-Cap index was down 12.02 points or 0.08% at 15,298.19.

On the BSE, 310 shares were traded on the counter so far as against the average daily volumes of 13,629 shares in the past one quarter. The stock had hit a high of Rs 188.75 and a low of Rs 183.10 so far during the day. The stock had hit a record high of Rs 209.20 on 29 May 2017. The stock had hit a 52-week low of Rs 104 on 29 June 2016.

The stock had underperformed the market over the past one month till 29 June 2017, falling 9.48% compared with 0.81% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 23.64% as against Sensex's 4.49% gains. The scrip had also outperformed the market in past one year, gaining 52.18% as against Sensex's 15.4% gains.

The small-cap company has equity capital of Rs 17.69 crore. Face value per share is Rs 10.

Emmbi WatCon LLP is incorporated as a Limited Liability Partnership with 99.99% share directly and 0.01% share through its director, in the LLP. The main objective of the LLP is to undertake water conservation related contracts.

Emmbi WatCon LLP will undertake turnkey contracts including installation to do water conservation activities by providing and installing canal liners for various government irrigation corporations, which will be using the canal liner fabric manufactured by Emmbi Industries.

Emmbi Industries' net profit rose 10.2% to Rs 4.09 crore on 12.3% rise in net sales to Rs 63.22 crore in Q4 March 2017 over Q4 March 2016.

Emmbi Industries is engaged in the business of manufacturing and trading of plastics products.

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