INEOS spurts up on good Q4

INEOS Styrolution (formerly Styrolution ABS India) is attracting a lot of attention today morning. Intra day, the stock shot up over 7% at Rs,670. It has come off that level for now and is at Rs.640 levels, nevertheless, up over 2.5%. Volumes are up 6.5 times.

The market is happy with the company’s Q4FY16 performance. Its net sales rose by a smart 169% (YoY) at Rs.722 crore. Other operating income also showed a major jump – from Rs.35 lakh to Rs.45 crore. Operating profit was up 40% at Rs.21 crore. There was a tax write back of Rs.18 crore and the sum total of all this – it ended Q4FY16 with an almost 4 times jump up in net profit at Rs.33 crore.

It ended FY16 with a whopping 80% jump in net profit at Rs.63 crore. This major YoY and QoQ jump in the performance is on account of its amalgamation with Styrolution India Pvt Ltd and its performance includes the numbers of this company too.

The company’s equity stands at Rs.17.58 crore. EPS works out to Rs.36 (FV of Rs.10). Reserves is at Rs.500 crore and borrowings around Rs.170 crore with a Rs.10 crore outgo per annum on interest.