SML Isuzu drops after weak sales in July

SML Isuzu lost 4.67% to Rs 1,066.55 at 11:45 IST on BSE after total sales dropped 42.4% to 788 units in July 2017 over July 2016.

The announcement was made after trading hours yesterday, 1 August 2017.

Meanwhile, the S&P BSE Sensex was down 17.53 points or 0.05% at 32,556.81. The S&P BSE Small-Cap index was up 24.91 points, or 0.15% at 16,099.74.

On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 3,645 shares in the past one quarter. The stock had hit a high of Rs 1,120 and a low of Rs 1,051.70 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 1,014 on 26 December 2016.

 

The stock had underperformed the market over the past one month till 1 August 2017, falling 7.45% compared with 4.34% rise in the Sensex. The scrip had underperformed the market in past one quarter, declining 15.47% as against Sensex's 8.97% rise. The scrip had also underperformed the market in past one year, sliding 14.21% as against Sensex's 16.42% rise.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu's net profit dropped 46.91% to Rs 8.85 crore on 16.24% growth in net sales to Rs 371.13 crore in Q4 March 2017 over Q4 March 2016.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 30 June 2017).

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