Himalya International spurts as board to review FY 2015 financial targets

Himalya International was locked at 20% upper circuit at Rs 15.51 at 14:49 IST on BSE after the firm said its board will meet on 26 April 2014, to review finances to achieve the financial goals for FY 2015 and arrange the funding required for FY 2015

The announcement was made during trading hours today, 21 April 2014.

Meanwhile, the S&P BSE Sensex was up 138.21 points or 0.61% at 22,767.05.

On BSE, so far 1.31 lakh shares were traded in the counter as against average daily volume of 35,638 shares in the past one quarter.

The stock opened with an upward gap, surging by the maximum 20% daily circuit and remained locked at the 20% level at Rs 15.51 so far in the day, which is a 52-week high for the counter. The stock had hit a 52-week low of Rs 5.60 on 11 September 2013.

The stock had outperformed the market over the past one month till 17 April 2014, surging 36.54% compared with the Sensex's 3.76% rise. The scrip had also outperformed the market in past one quarter, advancing 33.3% as against Sensex's 7.43% rise.

The small-cap company has equity capital of Rs 51.40 crore. Face value per share is Rs 10.

Himalya International's board of directors at its board meeting to be held on 26 April 2014, will also review the targets set for FY 2015. The Board also will review the opening of new markets in GCC & middle east for Himalya products. Also, the Board will review the orders and annual projections from the major new accounts in US Market. The Board will also review the moralities to relaunch Himalya Frozen Appetizer products in Indian Retail Sector.

Himalya International's net profit declined 9.5% to Rs 7.07 crore on 10.5% growth in net sales to Rs 52.20 crore in Q3 December 2013 over Q3 December 2012.

Himalya International is engaged in processing mushrooms, baby potatoes and buffalo cheese.

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