Aries Agro slipped 1.18% to Rs 41.85 at 15:18 IST on BSE on reports the company has deferred the launch of a manufacturing unit to March 2009 due to higher project cost.
The stock hit a high of Rs 44.50 and a low of Rs 40.10 so far during the day. The stock had a 52-week high of Rs 264.70 on 14 January 2008 and a 52-week low of Rs 35.10 on 27 October 2008.
The small-cap agro chemical maker has an equity capital of Rs 13 crore. Face value per share is Rs 10.
The current price of Rs 41.85 discounts its Q2 September 2008 annualised EPS of Rs 17.32, by a PE multiple of 2.41.
The specialty fertilisers making unit was expected to be operational by December this year. The company had earlier projected the manufacturing unit to cost Rs 25 crore - Rs 30 crore.
Aries Agro's net profit fell 0.4% to Rs 5.63 crore on a 12.4% rise in sales to Rs 36.79 crore in Q2 September 2008 over Q2 September 2007.
Aries Agro is engaged in the manufacture of agricultural products. It operates in five categories that are multi-micro nutrient fertilizers, chelated micro nutrient fertilizers, specialty soluble fertilizers and anti-bacterial products for agricultural use and nutritional products for animals. Its manufacturing facilities are located at Bangalore, Mumbai, Hyderabad and Kolkata.
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