Meghmani heads north after impressive Q1 earnings

Meghmani Organics surged 4.56% to Rs 53.90 at 15:10 IST on BSE after consolidated net profit rose 55.04% to Rs 43.32 crore on 17.06% growth in total income to Rs 465.54 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 267.23 points or 0.83% at 32,006.44. The S&P BSE Small-Cap index declined 195.03 points or 1.21% at 15,914.18.

On the BSE, 13.83 lakh shares were traded on the counter so far as against the average daily volumes of 5.35 lakh shares in the past one quarter. The stock had hit a high of Rs 55.65 and a low of Rs 48.50 so far during the day. The stock had hit a record high of Rs 57.35 on 20 July 2017 and a 52-week low of Rs 34.10 on 22 November 2016.

The stock had underperformed the market over the past one month till 7 August 2017, sliding 2.74% compared with the Sensex's 2.91% rise. The stock had, however, outperformed the market over the past one quarter, gaining 33.2% as against the Sensex's 8.09% rise. The scrip had, however, underperformed the market over the past one year, advancing 12.8% as against the Sensex's 14.94% rise.

The small-cap company has equity capital of Rs 25.43 crore. Face value per share is Rs 1.

Meghmani Organics is a manufacturer of pigments and agrochemicals. The company specializes in the manufacture of green and blue pigment products that span multiple applications. The company also produces a broad spectrum of commonly used pesticides for crop and non-crop applications.

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