JHS Svendgaard gains after board approves conversion of warrants

JHS Svendgaard Laboratories rose 4.93% to Rs 23.40 at 13:18 IST on BSE after the company said its board approved conversion of 1.02 crore warrants into equity shares.

The announcement was made after market hours yesterday, 3 March 2016.

Meanwhile, the BSE Sensex was up 59.67 points, or 0.24%, to 24,666.66.

On BSE, so far 10,000 shares were traded in the counter, compared with an average volume of 41,068 shares in the past one quarter. The stock hit a high of Rs 23.40 and a low of Rs 22.25 so far during the day. The stock hit a 52-week high of Rs 31.95 on 18 January 2016. The stock hit a 52-week low of Rs 6.86 on 30 March 2015. The stock had underperformed the market over the past one month till 3 March 2016, 21.48% compared with 1.58% rise in the Sensex.

The small-cap company has an equity capital of Rs 27.38 crore. Face value per share is Rs 10.

The warrants are held by 17 different investors. Out of these, 15 investors are non promoters and two--Nikhil Nanda and Sushma Nanda--are promoters of the company. Upon conversion of warrants into equity shares, Nikhil Nanda will receive 24 lakh equity shares and Sushma Nanda will receive 28.50 lakh equity shares of the company.

As on 31 December 2015, promoters held 37.55% stake in JHS Svendgaard Laboratories. Nikhil Nanda held 36.57% stake while Sushma Nanda held 0.90% stake in the company.

JHS Svendgaard Laboratories reported net loss of Rs 1.55 crore in Q3 December 2015 as against net loss of Rs 3.45 crore in Q3 December 2014. Net sales rose 94.25% to Rs 25.35 crore in Q3 December 2015 over Q3 December 2014.

JHS Svendgaard Laboratories is engaged in exporting, importing, trading, buying and selling of oral care/hygiene products (including toothbrushes and toothpastes).

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