Uniply Industries surges after announcing turnaround Q1 results

Uniply Industries was locked at 5% upper circuit at Rs 117.45 at 12:55 IST on BSE after the company reported net profit of Rs 0.98 crore in Q1 June 2015 compared with net loss of Rs 1.26 crore in Q1 June 2014.

The company announced results after market hours on Friday, 24 July 2015.

Meanwhile, the S&P BSE Sensex was down 405.73 points or 1.43% at 27,710.13.

On BSE, so far 8,057 shares were traded in the counter as against average daily volume of 45,087 shares in the past one quarter.

The stock was locked at a high of Rs 117.45, which is also a record high for the stock. The stock had hit a 52-week low of Rs 4.70 on 18 August 2014.

The stock had outperformed the market over the past one month till 24 July 2015, rising 62.06% compared with Sensex's 1.38% rise. The scrip had also outperformed the market in past one quarter, gaining 388.65% as against Sensex's 2.46% gain.

The small-cap company has equity capital of Rs 17.31 crore. Face value per share is Rs 10.

Uniply Industries' sales fell 16.9% to Rs 25.36 crore in Q1 June 2015 over Q1 June 2014.

Uniply Industries also said that the board of directors of the company at its meeting held on 25 July 2015 has approved the issue and allotment of up to 26.68 lakh shares on a preferential basis to the promoter and non-promoters for a total subscription amount of up to Rs 26.68 crore, at a price of Rs 100 per share.

Uniply Industries is into plywood and panel business.

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