Kemrock Industries drops after overseas acquisition
Kemrock Industries & Exports declined 1.23% to Rs 535 at 10:32 IST on BSE, after the company said on Monday, 11 February 2008, it has signed an agreement to buy the business of Italy's Top Glass SpA for an undisclosed sum.
The company made this announcement before trading hours today,
Meanwhile, BSE Sensex was down 220.13 points or 1.26% to 17,244.76 as poor debut of Reliance Power which had come out with
On BSE, 997 shares were traded in the counter. The scrip had an average daily volume of 18,522 shares in the past one quarter.
The stock hit a high of Rs 567.40 and a low of Rs 530 so far during the day. The stock had a 52-week high of Rs 999.85 on
The small-cap scrip had underperformed the market over the past one month till
The company’s current equity is Rs 10.13 crore. Face value per share is Rs 10.
The current price of Rs 535 discounts its Q3 December 2007 annualized EPS of Rs 22.90, by a PE multiple of 23.36.
The buyout of a majority stake would help Kemrock Industries & Exports to integrate Top Glass' technical capabilities in the field of pultrusion, which is a process for manufacturing composite materials, the company said.
Kemrock Industries & Exports’ net profit rose 4.1% to Rs 5.80 crore on 61.1% growth in net sales to Rs 52.30 crore in Q3 December 2007 over Q3 December 2006.
The company manufactures and exports fiberglass reinforced polymer composites. It also manufactures specialty and general resins. The company operates in two segments fiberglass reinforced polymer composites and resins. The company exports its products to the
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