Munjal Showa has soared 8% to Rs 85.85, extending its previous day’s 6% rally after reporting a healthy 85% year-on-year (y-o-y) jump in net profit at Rs 24 crore for the fourth quarter ended March 2012. Net sales grew 13% at Rs 404 crore on y-o-y basis.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margins improved almost 200 basis points from 7.42% to 9.31% during the recently concluded quarter.
The board of auto parts and equipment maker has recommended a dividend of 150% or Rs 3/- per equity share of Rs 2/- each for the year ended March 31, 2012.
As many as a combined 149,465 shares have already changed hands on the counter so far, against an average less than 50,000 shares that were traded daily in past two weeks on the NSE and BSE.
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