Manaksia Industries has been pretty volatile. Yesterday, in a single day it hit a new high at Rs.40.95, which was its 5% UC and then later, it hit the 5% LC at Rs.37.05. Today, it opened 5% lower at Rs.35.20, locked on the LC.

The market is disappointed with its Q4FY17 performance. Though its consoldiated net sales for the quarter rose 79% (YoY) at Rs.61 crore, its net profit dipped 57% at Rs.6 crore.

This was mainly on account of the 68% increase in total expenses, increase in tax outgo.

The company ended FY17 with a decent 47% rise in net profit at Rs.28 crore. Equity stands at Rs.6.55 crore and EPS for the fiscal is at Rs.4.26 (Re.1 FV). The reserves is pretty healthy at Rs.204 crore.