Astec Lifesciences was locked in an upper circuit of 20% at Rs 519.75 after consolidated net profit jumped 145% to Rs 31.18 crore 35% rise in net sales to Rs 180.57 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax (PBT) surged 96% to Rs 39.63 crore in Q4 March 2020 over Q4 March 2019. The board of the company recommended a final dividend of Rs 1.5 per equity share.
The stock has surged 24.35% in last one week from its previous closing of Rs 417.35 posted on 29 April 2020. The benchmark BSE Sensex has fallen 2.9% in the same period.
Astec LifeSciences manufactures a wide range of Agrochemical active ingredients and pharmaceutical intermediates. The company has manufacturing facilities located at two locations in Maharashtra, India comprising of three units viz. one unit at Dombivli, Maharashtra and two units at Mahad, Maharashtra.
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