EID Parry India gained 2.40% to Rs 161.90 at 12:51 IST on BSE, after the company reported net profit of Rs 611.89 crore in Q2 September 2008 as compared to a net loss of Rs 5.74 crore in Q2 September 2007.
The company announced the results after trading hours on Wednesday, 29 October 2008.
The stock hit a high of Rs 167 and a low of Rs 160 so far during the day. The stock has a 52-week high of Rs 267 on 7 August 2008 and a 52-week low of Rs 125 on 27 October 2008.
The stock gained 19.68% to Rs 158.10 in two sessions on 29 October 2008, from a recent low of Rs 132.10 on 27 October 2008, ahead of the results. The stock surged 15.59% to Rs 152.70 on 28 October 2008.
The company’s current equity is Rs 17.85 crore. Face value per share is Rs 2.
The current price of Rs 161.90 discounts the company’s Q2 September 2008 annualized EPS of Rs 274.24, by a PE multiple of 0.59.
Boosted by a massive surge in other income, EID Parry's total income rose 462.4% to Rs 1066.34 crore in Q2 September 2008 over Q2 September 2007.
At the time of announcing Q2 results, the company’s board also approved buy back of equity shares of the company for a maximum price of Rs 160 a share.
The company is engaged in manufacturing and marketing a wide-range of products such as sugar, bio-products and others. It also involves in the production of farm inputs and cogeneration of power.
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