Everest Kanto Cylinder in demand after good Q4 show

Everest Kanto Cylinder gained 1.40% to Rs 329.05 at 14:11 IST on BSE after posting 124.8% surge in net profit to Rs 11.51 crore on a 34.9% rise in net sales to Rs 108.05 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 331.95 and a low of Rs 325 so far during the day. The stock had a 52-week high of Rs 385.35 on 3 January 2008 and the stock hit a 52-week low of Rs 186 on 13 June 2007.

The company’s current equity is Rs 20.23 crore. Face value per share is Rs 2.

The current price of Rs 329.05 discounts its Q4 March 2008 annualised EPS of Rs 4.55, by a PE multiple of 72.32.

Everest Kanto Cylinder’s net profit rose 0.40% to Rs 47.26 crore on 0.55% rise in total income to Rs 346.15 crore in the year ended March 2008 over the year ended March 2007.

In April 2008, Everest Kanto Cylinder completed the acquisition of all the assets of CP Industries, Inc. United States for $66.3 million.

Everest Kanto Cylinder is engaged in manufacturing high-pressure gas cylinders with the higher water capacity.