Mudra Lifestyle declined 2.84% to Rs 41 at 11:29 IST on BSE on reports the company is planning to set up a greenfield Spandex yarn project at Silvassa at an estimated investment of Rs 300 crore.
The stock hit a high of Rs 41.95 and a low of Rs 40.25 so far during the day. The stock had a 52-week high of Rs 114.90 on
The company’s current equity is Rs 35.99 crore. Face value per share is Rs 10.
The current price of Rs 41 discounts its Q3 December 2007 annualised EPS of Rs 9.29, by a
PE multiple of 4.41.
As per recent reports, the company is scouting for a finance partner to part fund this project. Earlier, the company was planning to rise about Rs 200 crore through foreign currency convertible bond (FCCB). But, looking at the recent slump in the stock market, it is now looking for a partner to invest Rs 200 crore.
Mudra Lifestyle’s net profit rose 77.5% to Rs 8.36 crore on 57.6% increase in net sales to Rs 68.85 crore in Q3 December 2007 over Q3 December 2006.
The company has engaged in fabric weaving, processing and making garments.
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