Mangalore Chemicals & Fertilizers fell 3.76% to Rs 41 at 11:10 IST on BSE after the company said it has stopped urea production in Dakshina Kannada district and Mangalore city.
Meanwhile, the BSE Sensex was down 59.54 points, or 0.23%, to 25,629.32.
On BSE, so far 9,358 shares were traded in the counter, compared with an average volume of 16,569 shares in the past one quarter. The stock hit a high of Rs 42.60 and a low of Rs 40.80 so far during the day. The stock hit a 52-week high of Rs 79.50 on 14 May 2015. The stock hit a 52-week low of Rs 35.30 on 15 February 2016. The stock had underperformed the market over the past one month till 9 May 2016, falling 2.18% compared with 4.11% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.65% as against Sensex's 6.94% rise.
The small-cap company has an equity capital of Rs 118.52 crore. Face value per share is Rs 10.
On 27 April 2016, Mangalore Chemicals & Fertilizers announced that it initiated operation of ammonia and urea plants at reduced capacity due to acute water shortage in Dakshina Kannada district and Mangalore city.
The company, however, announced after market hours yesterday, 9 May 2016, that it stopped the urea production from 7 May 2016 due to non-availability of water. The production will resume once the water is available.
Mangalore Chemicals & Fertilizers reported net loss of Rs 5.79 crore in Q4 March 2016 as against net profit of Rs 34.06 crore in Q4 March 2015. Net sales rose 12.92% to Rs 752.34 crore in Q4 March 2016 over Q4 March 2015.
Mangalore Chemicals & Fertilizers is the largest manufacturer of chemicals fertilizers in Karnataka.
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