NGL Fine Chem nosedives after weak Q1 result

NGL Fine Chem was locked in 20% lower circuit at Rs 317.25 at 12:42 IST on BSE after net profit dropped 61.17% to Rs 1.60 crore on 12.3% fall in net sales to Rs 21.11 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after trading hours yesterday, 28 August 2017.

Meanwhile, the S&P BSE Sensex was down 248.22 points or 0.78% at 31,502.60. The S&P BSE Small-Cap index was down 29.17 points, or 0.18% to 15,788.38.

On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 2,861 shares in the past one quarter. The stock hit a high of Rs 353.75 and a low of Rs 317.25 so far during the day. The stock had hit a record high of Rs 470 on 1 August 2017. The stock had hit a 52-week low of Rs 251.50 on 17 November 2016.

The stock had underperformed the market over the past one month till 28 August 2017, sliding 7.08% compared with the Sensex's 1.73% fall. The scrip, however, outperformed the market over the past one quarter, gaining 6.48% as against the Sensex's 2.33% rise. The scrip, however, underperformed the market over the past one year, advancing 12.29% as against the Sensex's 14.28% rise.

The small-cap company has equity capital of Rs 3.09 crore. Face value per share is Rs 10.

NGL Fine Chem is a manufacturer of pharmaceuticals and intermediates for usage in veterinary and human health.

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