Filatex India was locked at 20% upper circuit at Rs 51.80 at 12:51 IST on BSE after net profit surged 364% to Rs 13.55 crore on 29.6% growth in net sales to Rs 348.57 crore in Q4 March 2016 over Q4 March 2015.
The result was announced after market hours on Friday, 22 April 2016.Meanwhile, the S&P BSE Sensex was down 179.66 points or 0.7% at 25,658.48.
The stock surged on heavy volumes. On BSE, so far 5.96 lakh shares were traded on the counter as against average daily volume of 9,399 shares in the past one quarter. The stock hit a low of Rs 50.50 so far during the day. The stock had hit a 52-week high of Rs 59.45 on 21 October 2015. The stock had hit a 52-week low of Rs 23.90 on 13 May 2015. The stock had outperformed the market over the past one month till 22 April 2016, surging 15.66% compared with Sensex's 2% rise. The scrip had also outperformed the market in past one quarter, advancing 10.63% as against Sensex's 5.74 % rise.
The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.
Filatex India is involved in manufacturing of various varieties of synthetic manmade fibres.
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