Artson Engineering was locked at 5% upper circuit at Rs 53.55 at 12:19 IST on BSE after net profit spurted 1367% to Rs 26.70 crore on 13.5% decrease in net sales to Rs 30.27 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 2 May 2017.
Meanwhile, the S&P BSE Sensex was down 5.55 points, or 0.02% at 29,915.63. The S&P BSE Small-cap index was up 23.51 points, 0.15% at 15,444.31.
On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 9,076 shares in the past one quarter. The stock had hit a high of Rs 53.55 and a low of Rs 52.50 so far during the day.
The stock had hit a 52-week high of Rs 62 on 24 October 2016 and a 52-week low of Rs 38 on 12 August 2016. The stock had outperformed the market over the past one month till 2 May 2017, advancing 7.37% compared with the Sensex's 1.02% rise. The scrip had also outperformed the market over the past one quarter advancing 11.23% as against the Sensex's 6% rise.
The small-cap company has equity capital of Rs 3.69 crore. Face value per share is Rs 1.
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Artson Engineering's board of directors at its meeting held yesterday, 2 May 2017, approved the increase in the borrowing powers of the company from Rs 75 crore to 125 crore, subject to approval of the shareholders at the ensuing annual general meeting.
Board also approved the closure of the company's manufacturing unit located at Asanbani Jamshedpur, Jharkhand.
Artson Engineering is a project engineering company. It offers multi-disciplinary design and construction services in the mechanical, civil, electrical and instrumentation fields. It offers turnkey services in petroleum storage and handling systems, plant utilities, diesel power houses, CPP, energy conservation, waste-heat recovery and noise pollution control systems.
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