 "S H Kelkar & Co hits new high")
S H Kelkar & Company has rallied 15% to Rs 304 on the National Stock Exchange (NSE) in intra-day trade on back of heavy volumes. The stock is currently trading at its highest level since listing in November last year.
S H Kelkar & Company, one of the biggest players in fragrance and flavour business, had reported 41% jump in consolidated net profit to Rs 27.5 crore, on back of 16% growth in total income at Rs 256 crore for the first quarter ended June 30, 2016 over the previous year quarter.
The company’s EBITDA (earnings before interest, depreciation and taxes) margin improved 60 basis points to 19.7% from 19.1%.
S H Kelar & Company said the margins expand primarily owing to better realisations, higher profitability in the flavours business and contribution from new business acquisition.
Flavours business registered strong growth in profitability with margins improving to 30.3% in Q1FY17 compared to 20.9% in Q1FY16, it added.
The company had raised Rs 508 crore through initial public offer (IPO) at issue price of Rs 180 per share.
At 03:20 pm, the stock was up 13% at Rs 300 on the NSE. The trading volumes on the counter more than doubled with a combined 649,926 shares changed hands on the NSE and BSE.
S H Kelkar & Company, one of the biggest players in fragrance and flavour business, had reported 41% jump in consolidated net profit to Rs 27.5 crore, on back of 16% growth in total income at Rs 256 crore for the first quarter ended June 30, 2016 over the previous year quarter.
The company’s EBITDA (earnings before interest, depreciation and taxes) margin improved 60 basis points to 19.7% from 19.1%.
S H Kelar & Company said the margins expand primarily owing to better realisations, higher profitability in the flavours business and contribution from new business acquisition.
Flavours business registered strong growth in profitability with margins improving to 30.3% in Q1FY17 compared to 20.9% in Q1FY16, it added.
The company had raised Rs 508 crore through initial public offer (IPO) at issue price of Rs 180 per share.
At 03:20 pm, the stock was up 13% at Rs 300 on the NSE. The trading volumes on the counter more than doubled with a combined 649,926 shares changed hands on the NSE and BSE.
