Phillips Carbon Black strong Q4 results

Phillips Carbon Black surged 8.46% to Rs 207.70 at 12:54 IST on BSE after the company posted 279.50% spurt in net profit to Rs 89.30 crore in FY March 2008 over FY March 2007.

The stock hit a high of Rs 229.80 and a low of Rs 198 so far during the day. The stock had a 52-week high of Rs 297 on 10 December 2007 and a 52-week low of Rs 127.10 on 24 March 2008.

The stock witnessed solid rally ahead of its results. From recent low of Rs 156.15 on 10 April 2008, the stock advanced 22.63% to Rs 191.50 by 28 April 2008, in anticipation of strong results from the company.

The company’s current equity is Rs 25.25 crore. Face value per share is Rs 10. Promoters hold 50.17% stale in the company (as at end March 2008).

The current price of Rs 207.70 discounts its Q4 March 2008 annualised EPS of Rs 22.04, by a PE multiple of 9.42.

Phillips Carbon’s net sales rose 3.50% to Rs 1033.18 crore in FY March 2008 over FY March 2007. The company reported 37.20% rise in net profit to Rs 19.08 crore on 7.60% rise in net sales to Rs 274.11 crore in Q4 March 2008 over Q4 March 2007.

The company produces carbon black, which is input for manufacturing tyres.