Good Q4 results lifts Uflex higher

Uflex rose 3.81% to Rs 348.50 at 10:35 IST on BSE after consolidated net profit rose 22% to Rs 98 crore on 9% rise in revenue to Rs 1634 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 10.94 points, or 0.04%, to 31,170.34. The S&P BSE Small-Cap index was up 123.67 points, or 0.83%, to 15,047.71.

On the BSE, 14,413 shares were traded in the counter so far, compared with average daily volume of 48,173 shares in the past one quarter. The stock had hit a high of Rs 354 and a low of Rs 339 so far during the day. The stock had hit a record high of Rs 393.85 on 17 May 2017. The stock had hit a 52-week low of Rs 187 on 31 May 2016.

The stock had dropped 5.02% in two sessions to Rs 335.70 yesterday, 30 May 2017 from a close of Rs 353.45 on 26 May 2017 ahead of Q4 results.

The stock had underperformed the market over the past one month till 30 May 2017, sliding 9.56% compared with 4.15% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 25.05% as against Sensex's 8.41% gains. The scrip had also outperformed the market in past one year, gaining 75.44% as against Sensex's 16.59% gains.

The small-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflex's board of directors recommended a dividend of Rs 3.50 per share for the financial year ended 31 March 2017 (FY 2017).

R K Jain, Group President said that the sales volume rose owing to the company's emphasis on innovation to create value added differentiation in products. New variants of speciality and high barrier films coupled with value added packaging solutions that company launched throughout the year played a significant role in the overall sales volumes and profit growth, he added.

Uflex is an end-to-end flexible packaging materials and solutions company.

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