GHCL on restructuring plan

GHCL plunged 11.17% to Rs 77.65 at 16:07 IST on BSE after the company said its board will meet on, 24 March 2008, to give in-principle approval for restructuring of the company..

The company made this announcement during trading hours today, 14 March 2008.

The stock hit a high of Rs 91 and a low of Rs 70.20 so far during the day. The stock had a 52-week high of Rs 208.40 on 24 December 2007 and a 52-week low of Rs 84 on 13 March 2007.

The company’s current equity is Rs 100.02 crore. Face value per share is Rs 10.

The current price of Rs 77.65 discounts its Q3 December 2007 annualized EPS of Rs 12.45, by a PE multiple of 6.23.

GHCL’s net profit rose 1.4% to Rs 31.14 crore on 37.6% rise in sales to Rs 298.57 crore in Q3 December 2007 over Q3 December 2006.

GHCL is currently engaged in chemicals business through the soda ash division apart from home textiles.