Zuari Agro on a roll!
By
Research Desk
about 10 years ago
Zuari Agro is on a roll! Thanks to the turnaround Q2 numbers, the stock today hit a new high at Rs.274.50, with a 1.25 times surge in volumes. It has come off the highs but remains firmly in the green, up 15% at Rs.266 levels.
The company, which has been more in news lately for its takeover battle with Deepak Fertilisers for Mangalore Chemicals and Fertilizers, is today zooming up on posting a net profit of Rs.22 crore for Q2FY15 v/s net loss of Rs.40 crore in previous Q1 and loss of Rs.38 crore in Q1FY15. Net sales rose 8% (YoY) at Rs.1421 crore. EBITDA margin rose from a pathetic 0.91% to a very healthy 5.29%.