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Improved performance infuses life into Aryan FineFab scrip on BSE
FE Investor Bureau
January 2: Boosted by a good first half result, Aryan FineFab scrip has doubled on the Mumbai Stock Exchange in just six trading sessions. The scrip started moving on December 26, 1997, rising from Rs 1.20 to touch Rs 2.40 on January 2, 1998. However, the rise in daily volumes started even before the recent rise in price. While the average daily volume was close to 1000 shares, it has galloped since December 17 and is in the range of 50,000 to 1 lakh shares.For the first half ended September 1997, the company reported a net profit of Rs 1.43 crore on total sale of Rs 26 crore. This shows a marked improvement upon its performance for the 15-month period ended March 1997. During the 15-month period, Aryan had reported a net profit of Rs 2.24 crore on a sales turnover of Rs 62.42 crore. Accordingly, its operating and net profit margins have also improved - from 13.84 per cent and 3.59 per cent, respectively, during year ended March 1997, they have moved up to 15.42 per cent and 5.53 per cent for the half
year ended September 1997. On an equity base of Rs 13.29 crore, its annualised earnings per share improved to Rs 2.15 from earlier Rs 1.47. Aryan FineFab is a Gujarat-based company. It is a 100 per cent export oriented unit which manufactures and sells high quality grey cotton yarn. It has a technical collaboration with Benninger of Switzerland and markets its products in the USA and far eastern countries.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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