Clariant Chemicals records sales of Rs 517.9 crore in H1 2016-17

India Infoline News Service | Mumbai | December 02, 2016 13:07 IST

The company's reported sales grew to Rs 247.3 crore, for the quarter ended September 30, 2016 as compared to Rs 241.7 crore in the same period last year. The continued businesses (Plastics and Coatings segment) grew by 7.3%, for the quarter ended September 30, 2016.

Clariant Chemicals (India) Limited, India's leading specialty chemicals producer, recorded Sales of Rs 512.9 crore in H1 2016-17, registering a growth of 6.5% as compared to the same period in the previous year. The sales for the continued businesses (Plastics & Coatings segment) grew by 13.9% in H1 2016-17.

The company's reported sales grew to Rs 247.3 crore, for the quarter ended September 30, 2016 as compared to Rs 241.7 crore in the same period last year. The continued businesses (Plastics and Coatings segment) grew by 7.3%, for the quarter ended September 30, 2016.

The Profit from Operations in H1 2016-17 stood at Rs 21.9 crorc (4.2% of Sales). The Profit from Operations for the quarter ended September 30, 2016 rose to Rs 3.6 crore (1.4% of Sales) as against Rs 0.9 crore (0.4% of sales) for the same period last year.

The company is maintaining its sustainable growth targets in its core continuing businesses with better raw material management, targeting new customers and introducing innovative products.

Stock Commentary:

Clariant Chemicals (India) Ltd is currently trading at Rs 720.7, down by Rs 14 or 1.91% from its previous closing of Rs 734.7 on the BSE.

The scrip opened at Rs 734 and has touched a high and low of Rs 735.1 and Rs 718.5 respectively. So far 31058(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1695.82 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 838 on 10-Oct-2016 and a 52 week low of Rs 587.25 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs 742 and Rs 718.5 respectively.

The promoters holding in the company stood at 64.24 % while Institutions and Non-Institutions held 6.09 % and 29.68 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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