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Pincon Spirit in high spirits after entering into bottling tie up

Capital Market 

Pincon Spirit rose 4.62% to Rs 64.60 at 10:35 on after the company said that it has entered into a bottling tie up with SDF Industries, Palakkad,

The announcement was made during market hours today, 13 October 2017.

Meanwhile, the S&P Sensex was up 224.56 points or 0.7% at 32,406.78. The S&P Small-Cap index advanced 92.96 points or 0.55% at 16,996.61, underperforming the Sensex.

On the BSE, 54,315 shares were traded on the counter so far as against the average daily volumes of 1.36 lakh shares in the past one quarter. The stock had hit a high of Rs 65.60 and a low of Rs 62.20 so far during the day. The stock had hit a 52-week high of Rs 80.30 on 25 January 2017 and a 52-week low of Rs 42.15 on 22 August 2017.

The stock had outperformed the market over the past one month till 12 October 2017, gaining 18.18% compared with the Sensex's 0.07% rise. The stock had, however, underperformed the market over the past one quarter, falling 14.12% as against the Sensex's 1.19% rise. The scrip had also underperformed the market over the past one year, declining 18.27% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 44.09 crore. Face value per share is Rs 10.

Pincon Spirit said that it has entered into a bottling tie up with SDF Industries, Palakkad, for their brands Ultra Force Rum, Ruby Gold Brandy, Pincon Rum/brandy and King's Coin Rum/brandy.

State Beverages Corporation (SBCL) board has given the clearance and the company's products shall be rolled out in first week of November 2017. The company is expecting sale of 3 lakh cases in the year ending 31 March 2018 (FY 2018).

Net profit of Pincon Spirit rose 30.6% to Rs 11.92 crore on 26.3% rise in net sales to Rs 390.62 crore in Q1 June 2017 over Q1 June 2016.

Pincon Spirit is a liquor company. The company is engaged in carrying on the business of blending, bottling and wholesale distribution of Indian made Indian liquor (IMIL).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 10:51 IST