Chambal Fertilisers & Chemicals stock zooms 16% post Q4 earnings

Share of Chambal Fertilisers & Chemicals rose over 16 per cent to hit a 52-week high of Rs 268 after the company reported a 126 per cent jump in net profit . Profit rose to Rs 447.89 crore in Q4 against Rs 197.55 crore in the year-ago period.  

The share ended 10.90 per cent higher at Rs 255.85 against the previous close of Rs 230.70 on BSE. Chambal Fertilisers & Chemicals Ltd share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.The stock has gained 99 per cent in one year and risen 12.27 per cent since the beginning of this year. Market cap of the firm rose to Rs 10,647.89 crore.

Revenue from operations increased 17 per cent to Rs 1,640.76 crore for the quarter ended March 2021 compared to Rs 1969.09 crore in the year-ago period. Revenue rose due to higher sales of non-urea fertilisers whereas urea turnover reduced due to a fall in gas prices.

The company aims to be a PAN India player by expanding to high potential states. It is also targeting a marketing network comprising of around 1000 dealers and 7000 retailers.

Further, the Board of Directors of the Company at its meeting held on May 10, 2021, recommended a final dividend of Rs. 4.50 per equity share of Rs. 10 each of the Company. The dividend shall be paid within the prescribed time after the conclusion of the next Annual General Meeting, subject to the approval of the shareholders of the company.

Meanwhile, Sensex and Nifty ended lower for the second consecutive session. While Sensex fell 471 points to 48,690, Nifty lost 154 points to 14,696.