Champagne Indage on overseas acquisitions

Champagne Indage gained 2.76% to Rs 544.90 at 14:18 IST on BSE after the company said its 100% subsidiaries have entered into arrangements to acquire wine businesses in various global wine producing regions viz. South Africa, UK and South Australia.

The stock hit a high of Rs 544.90 and a low of Rs 519.95 so far during the day. The stock had a 52-week high of Rs 981 on 21 November 2007 and the stock hit a 52-week low of Rs 423 on 25 March 2008.

The company’s current equity is Rs 15.27 crore. Face value per share is Rs 10.

The current price of Rs 544.90 discounts its Q3 December 2007 annualised EPS of Rs 59.28, by a PE multiple of 9.19.

Champagne Indage’s net profit rose 156.1% to Rs 18.82 crore on 85.4% rise in net sales to Rs 76.41 crore in Q3 December 2007 over Q3 December 2006.

Champagne Indage produces wine in India. The company exports wine to US, Japan, the UK, Switzerland, Germany and other European countries. It has a rich portfolio of 64 brands priced to target different income groups.