Asian Paints gained 3.54% to Rs 1107 at 11:10 IST on BSE after posting 32% rise in net profit to Rs 98 crore on 34.5% growth in net sales to Rs 995.24 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results after trading hours yesterday, 22 July 2008.
The stock hit a high of Rs 1140 and a low of Rs 1090 so far during the day. The stock had a 52-week high of Rs 1319.95 on 31 November 2008 and a 52-week low of Rs 808.70 on 26 July 2007.
The company has an equity capital of Rs 95.92 crore. Face value per share is Rs 10.
The current price of Rs 1107 discounts its Q1 June 2008 annualised EPS of Rs 40.87, by a PE multiple of 27.09.
On consolidated basis, the company’s net profit rose 29.64% to Rs 106.21 crore on 29.17% increase in total income to Rs 1252.27 crore in Q1 June 2008 over Q1 June 2007.
On 24 June 2008, Asian Paints said it had set up a greenfield manufacturing facility worth Rs 400 crore at Rohtak in Haryana. The plant's initial capacity will to manufacture 1.5 lakh kilolitres of paint, which can be scaled up to 4.5 lakh litres. The production is expected to start in early part of the 2010.
The company manufactures and markets paints. The group also manufactures phthalic anhydride and pentaerythritol. The group operates in Australia, Fiji, Solomon Islands, Tonga, Vanuatu, Myanmar, China, Thailand, Malaysia, Singapore, Bangladesh, Nepal, Srilanka, Bahrain, the UAE, Oman, Barbados, Jamaica, Trinidad, Tobago, Egypt, Mauritius and Malta.
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