Prataap Snacks hits a new high

Prataap Snacks hit a new 52-week high today at Rs.1404, up 10% over yesterday’s close of Rs.1278.70.

The stock price has jumped up reacting to its very strong numbers for Q2FY18. It reported a whopping 143% (YoY) jump in net profit at Rs.13 crore on a 10% increase in revenue.

EBITDA was up 146% at Rs.26 crore while margins shot up from 4.40% to 5.50%.

What really helped was the lower expenses – it was at 93% of total income in current Q2 v/s 98% in previous Q2. Interest outgo was down 57%.

The stock had got listed on 5th Oct at Rs.1250 on the BSE v/s IPO price of Rs.938, a premium of 33%.

The issue had got a very good response, subscribing 47.39 times, despite the steep pricing, mainly supported by qualified institutional buyers (QIBs) and HNIs – their portion was subscribed 76.89 times and 101.15 times; Retail was at 8.48 times.