Jay Bharat Maruti in fast lane

Jay Bharat Maruti is cruising in the fast lane today. Opening almost 8% higher, the stock zoomed to an intra day high at Rs.158.20, up 11.5%. Volumes have jumped up over 13 times.

The market is exuberant about the company’s Q4FY16 performance. It posted a 3% (YoY) rise in net sales at Rs.325 crore. Raw material prices remained stable and overall costs were down 2%. EBITDA for the quarter was up 43% and margins rose from 7.3% to 13.23%. Tax outgo rose 50% and net profit was at rs.13 crore, up 30%.

The company ended FY16 with a net profit of Rs.40 crore, same as in FY15 on a 2% rise in net sales at Rs.1240 crore.