 "Punjab Chemicals zooms 20% on strong growth prospects")
Shares of Punjab Chemicals and Crop Protection is locked in upper circuit of 20% at Rs 126 on BSE after the company said it is expecting an over four-fold jump in net profit in the next fiscal due to reduction in debt, committed market orders and reduction in operating costs.
“The company is expecting quantum jump in sale to Rs 450 crore and net profit of Rs 20 crore (approx) in the next financial year 2015-16, due to reduction in debt, committed market orders and reduction in the operating cost,” Punjab Chemicals and Crop Protection said in a statement.
The company engaged in agrochemicals business expects to have a total turnover of Rs 400 crore with approximately profit of Rs 4.50 crore in the year 2014-15.
For the first nine months (April – December) of current financial year, the company had reported gross sales of Rs 314 crore and profit of Rs 4.08 crore.
The company said it has entered into a strategic long term sales contract for few agro chemicals with the buyer of Agrichem.
The company has taken major initiatives to run the Agro Chemicals Division at the maximum capacity level which is a cash generating division of the company, it added.
Till 1340 hours, a combined 108,059 shares changed hands and there are pending buy orders for 5,831 shares on BSE and NSE.
“The company is expecting quantum jump in sale to Rs 450 crore and net profit of Rs 20 crore (approx) in the next financial year 2015-16, due to reduction in debt, committed market orders and reduction in the operating cost,” Punjab Chemicals and Crop Protection said in a statement.
The company engaged in agrochemicals business expects to have a total turnover of Rs 400 crore with approximately profit of Rs 4.50 crore in the year 2014-15.
For the first nine months (April – December) of current financial year, the company had reported gross sales of Rs 314 crore and profit of Rs 4.08 crore.
The company said it has entered into a strategic long term sales contract for few agro chemicals with the buyer of Agrichem.
The company has taken major initiatives to run the Agro Chemicals Division at the maximum capacity level which is a cash generating division of the company, it added.
Till 1340 hours, a combined 108,059 shares changed hands and there are pending buy orders for 5,831 shares on BSE and NSE.