The company made this announcement during trading hours today, 12 December 2008.Meanwhile, the BSE Sensex was down 313.95 points, or 3.25%, to 9,331.51.On BSE, 43,236 shares were traded in the counter. The stock had an average daily volume of 39,814 shares in the past one quarter.The stock hit a high of Rs 11.50 and a low of Rs 9.90 so far during the day. The stock hit a 52-week high of Rs 24.32 on 7 August 2008 and a 52-week low of Rs 7.02 on 1 December 2008.
The small-cap stock had underperformed the market over the past one month till 11 December 2008, falling 6.07% as compared to the Sensex's decline of 1.97%. It had also underperformed the market in the past one quarter, declining 47.76% as compared to the Sensex's decline of 32.66%.The company's current equity is Rs 11.25 crore. Face value per share is Rs 1.
The current price of Rs 10.55 discounts the company's Q2 September 2008 annualized EPS of Rs 1.11, by a PE multiple of 9.50.The rights opened on 17 November 2008 and closed on 5 December 2008. The company had priced the rights issue at Rs 8 per share, at a premium of Rs 7 on the face value of rupee one each. The rights issue was in the ratio of one equity shares for every four shares held.
Ugar Sugar Works reported a net profit of Rs 2.49 crore in Q2 September 2008 as compared to net loss of Rs 17 crore in Q2 September 2007. Net sales rose 35.9% to Rs 82.32 crore in Q2 September 2008 over Q2 September 2007.
The company is engaged in manufacturing and selling sugar. It also manufactures spirit, industrial and portable alcohol and generates power by using non-conventional energy source. The company operates in four segments: sugar, electricity, portable alcohol and industrial alcohol. It operates in India.
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