Shri Jagdamba hits life time high

Shri Jagdamba Polymers has been hitting new life time highs almost through November and now in December too. Today too, it has hit a new high at 678, locked in the 5% UC the moment it opened for trading.

This Ahmedabad based company, Shri Jagdamba Polymers, is engaged mainly in production of sacks & bags of polyethylene and fabrics.

The company posted a very good set of numbers for Q2FY17. Net sales was up 8% (YoY) at Rs.38 crore and EBITDA rose 71% at Rs.6 crore. Net profit for the quarter was at Rs.2.5 crore, up from Rs.1 crore in previous Q2.

The company’s equity capital is tiny at Rs.88 lakh and reserve is at Rs.21 crore. Annualised EPS stands at Rs.83 (FV of Rs.10). The company is a huge bonus candidate and that explains the high investor fancy for a stock whose market cap stands at Rs.60 crore.