Indo Rama Synthetics jumps after reporting turnaround in Q4

Indo Rama Synthetics (India) was locked at 20% upper circuit at Rs 21.50 at 11:20 IST on BSE after company reported net profit of Rs 30.84 crore in Q4 March 2015 compared with loss of Rs 14.17 crore in Q4 March 2014.

The Q4 result was announced after market hours yesterday, 18 May 2015.

Meanwhile, the S&P BSE Sensex was down 42.90 points or 0.15% at 27,644.40.

On BSE, so far 2.77 lakh shares were traded in the counter as against average daily volume of 13,661 shares in the past one quarter.

The stock was locked at a high of Rs 21.50 so far during the day. The stock had hit a 52-week high of Rs 29.85 on 15 September 2014. The stock had hit a 52-week low of Rs 15.95 on 16 May 2014.

The stock had underperformed the market over the past one month till 18 May 2015, sliding 9.57% compared with Sensex's 2.65% fall. The scrip had also underperformed the market in past one quarter, declining 7.24% as against Sensex's 5.57% fall.

The small-cap company has equity capital of Rs 151.82 crore. Face value per share is Rs 10.

Indo Rama Synthetics (India)'s net total income from operations fell 6.43% to Rs 650.73 crore in Q4 March 2015 over Q4 March 2014. The operational EBITDA (earnings before interest, taxes, depreciation and amortization) for Q4 March 2015 stood at Rs 51.40 crore as compared to a loss of Rs 0.24 crore in Q4 March 2014. The cash profit rose 57.07% to Rs 68.61 crore in Q4 March 2015 over Q4 March 2014.

Indo Rama Synthetics (India) said that the board of directors of the company at its meeting held on 18 May 2015, inter alia, recommended dividend of Re 1 per share for the year ended 31 March 2015 (FY 2015).

Indo Rama Synthetics (India) is dedicated polyester manufacturer with an Integrated Manufacturing Complex in Butibori near Nagpur in Maharashtra, with production capacity of 6,10,050 tons per annum of Polyester Staple Fibre, Filament Yarn, Draw Texturized Yarn, Fully Drawn Yarn and Textile grade Chips.

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