This Article is From Nov 25, 2011

Sagar Cements drops after poor Q4 result

Sagar Cements declined 1.81% to Rs 174 at 11:15 IST on BSE, after net profit tumbled 96.4% to Rs 0.25 crore on 2.1% fall in net sales to Rs 123.56 crore in Q4 March 2010 over Q4 March 2009.

The company declared its results after market hours on Tuesday, 18 May 2010.

Meanwhile, the BSE Sensex was down 150.87 points, or 0.89% to 16,724.89.

On BSE, 131 shares were traded in the counter as against an average daily volume of 6,795 shares in the past one quarter.

The stock hit a high of Rs 177 and a low of Rs 172 so far during the day. The stock had hit a 52-week of Rs 271.75 on 12 June 2009 and a 52-week low of Rs 165 on 23 February 2010.

The small-cap stock had underperformed the market over the past one month till 18 May 2010, declining 6.39% as compared to the Sensex's 4.07% decline. It had also underperformed the market in the past one quarter, rising 0.48% as compared to the Sensex's return of 3.36%.

The company's equity capital is Rs 15 crore. Face value per share is Rs 10.

Net profit rose 16.2% to Rs 19.12 crore on 56.4% surge in net sales to Rs 479.57 in the year ended March 2010 over the year ended March 2009.

At the time of announcing the results, the board of directors of the company recommended a dividend of Rs 2.50 per share (25%) for the year ended March 2010.