Munjal Auto jumps after strong Q4 earnings

Munjal Auto Industries surged 6.24% to Rs 63 at 14:15 IST on BSE after net profit rose 14.9% to Rs 13.66 crore on 16.3% growth in net sales to Rs 217.84 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced after market hours on Monday, 19 May 2014.

Meanwhile, the S&P BSE Sensex was down 27.17 points or 0.11% at 24,335.88.

On BSE, so far 77,000 shares were traded in the counter as against average daily volume of 18,666 shares in the past one quarter.

The stock hit a high of Rs 63.90 and a low of Rs 61.05 so far during the day. The stock had hit a record high of Rs 64 on 7 April 2014. The stock had hit a 52-week low of Rs 25.50 on 6 August 2013.

The stock had underperformed the market over the past one month till 19 May 2014, advancing 7.33% compared with the Sensex's 7.66% rise. The scrip had, however, outperformed the market in past one quarter, jumping 43.93% as against Sensex's 17.57% rise.

The small-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Munjal Auto Industries' net profit rose 20.7% to Rs 47.66 crore on 13.7% growth in net sales to Rs 810.08 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

Munjal Auto Industries is a leading auto component manufacturing company in India.

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