Prakash Industries declined 3.83% to Rs 51.50 after P. L. Gupta resigned as Whole-time Director designated as Director (Finance) and Chief Financial Officer (CFO) of the company with effect from 18 December 2021 due to personal reasons.
Meanwhile, on 17 December 2021, CARE Ratings assigned a credit rating of "CARE BB (CWD)" on Prakash Industries' long term bank facilities of the company.
The company's net profit surged to Rs 43.07 crore in Q2 FY22 from Rs 9.15 crore in Q2 FY21. Net sales jumped 17% to Rs 893.59 crore in the quarter ended September 2021 as against Rs 763.83 crore during the previous quarter ended September 2020.
Prakash Industries is engaged primarily in the business of manufacture and sale of steel products and generation of power. The company has its manufacturing facilities in India and sells products in India.
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