TVS Srichakra drops after poor Q4 earnings

TVS Srichakra lost 2.45% to Rs 3,749.95 at 10:34 IST on BSE after net profit fell 35.9% to Rs 32.13 crore on 2.4% decrease in net sales to Rs 472.23 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 24 May 2017.

Meanwhile, the S&P BSE Sensex was up 146.57 points, or 0.48% at 30,448.21. The S&P BSE Small-Cap index was up 131.26 points, 0.9% at 14,687.83.

On the BSE, 722 shares were traded on the counter so far as against the average daily volumes of 3,280 shares in the past one quarter. The stock had hit a high of Rs 3,820 and a low of Rs 3,622 so far during the day.

The stock had hit a record high of Rs 4,304.05 on 2 May 2017 and hit a 52-week low of Rs 2,228.65 on 24 June 2016. The stock had underperformed the market over the past one month till 24 May 2017, sliding 1.52% compared with the Sensex's 2.18% rise. The scrip had, however, outperformed the market over the past one quarter advancing 27.35% as against the Sensex's 4.88% rise.

The small-cap company has equity capital of Rs 7.66 crore. Face value per share is Rs 10.

TVS Srichakra's board recommended a dividend of Rs 50.70 per share for the year ended March 2017.

TVS Srichakra is engaged in the manufacture of two and three-wheeler tyres. The company manufactures pneumatic tyres, flotation, motorgrader, farm & implement tyres, skid steer tyres, multipurpose tyres and vintage tyres.

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