Mather & Platt Pumps was locked at upper limit of 20% to Rs 140.50 at 10:37 IST on BSE after the company said its promoter proposes voluntary delisting of the company from all the stock exchanges.
The company made the announcement before market hours today, 16 September 2008.
The stock had a 52-week high of Rs 239.75 on 20 November 2007 and a 52-week low of Rs 90 on 17 July 2008.
The small-cap motor pumps maker has an equity capital of Rs 9.23 crore. Face value per share is Rs 10.
The current price of Rs 140.50 discounts its Q2 June 2008 annualised EPS of Rs 13.04, by a PE multiple of 10.77.
The company said in a release that its promoter WILO SE proposed to voluntary delist the company from all the stock exchanges where it is presently listed, i.e. Bombay Stock Exchange and Pune Stock Exchange. The promoter has also proposed Rs 150 as the delisting price. The promoter WILO AG holds 62.84% in the company (as on 30 June 2008).
The net profit of Mather & Platt Pumps rose 2910% to Rs 3.01 crore on a 100.5% rise in sales to Rs 63.65 crore in Q2 June 2008 over Q2 June 2007.
Mather & Platt Pumps manufactures pumps and valves to all core industries. The company renders services like installation and commissioning of pumping plants, training, preventive maintenance, supply of spare parts , retrofit, field services and repairs.
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