Adi Finechem hit its 52-week high following 123% jump in its full year net profit and bonus issue
Adi Finechem Ltd, an Ahmedabad-based speciality chemical producer, on Wednesday hit its 52-week high at Rs169.15 on the BSE, following 123% jump in its full year net profit and bonus issue of shares.
For the 12 month to end-March, Adi Finechem said its net profit surged 123% to Rs18.68 crore from Rs8.39 crore while total revenues, including sales, grew 23% to Rs151.82 crore from Rs123.10 crore, a year ago period.
Adi Finechem said its total expenditure in FY14 grew 12% to Rs121.33 crore from Rs108.10 crore. Its costs of raw material consumed increased only 6% to Rs93.49 from Rs88.02, a year ago period.
However, Adi Finechem said it paid 125% higher taxes of Rs9.71 crore to Rs4.32 crore, a year ago period.
For the quarter to end-March, Adi Finechem said its net profit surged 145% to Rs6.43 crore from Rs2.62 crore even as its total revenues, including sales, grew 50% to Rs44.32 crore from Rs29.46 crore, same period last year.
Adi Finechem's reserves and surplus increased 79% to Rs34.75 crore from Rs19.41 crore.
Adi Finechem declared dividend of Rs1.50 per share.
The company declared bonus issue in the ratio of 1:10 (1 bonus share for every 10 shares) subject to shareholder's approval. Earlier in July 2013 also it had allotted 1 bonus share for every 10 shares.
Adi Finechem closed Wednesday 4% higher at Rs167.6 on BSE, while the S&P BSE Sensex ended the day marginally down at 24,298.
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