Bull of the Day: Stock that gained 96% in one year

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Bull of the Day: Stock that gained 96% in one year

Madras Fertilisers has zoomed 96.91% in the last one year. Fertiliser Ministry is going to consider waiver of company's loans worth Rs 550 crore. Today, the stock gained 9.56% or Rs 2.50 to end at Rs 28.65 on the NSE.

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Madras Fert BSE | NSE 30/05/12 Are Mutual Funds betting on Madras Fert? Other Stocks in this news Coromandel International | National Fertilizers | Rashtriya Chemicals and Fertilisers | Chambal Fertilisers and Chemicals | Gujarat State Fertilizers Company | Fertilisers and Chemicals Travancore | Oswal Chemicals and Fertilisers | Zuari Industries | Gujarat Narmada Valley Fertilizers Company |

Madras Fertilisers has zoomed 96.91% in the last one year. Fertiliser Ministry is going to consider waiver of company's loans worth Rs 550 crore. Today, the stock gained 9.56% or Rs 2.50 to end at Rs 28.65 on the NSE.

Today's stock performance:

The share touched an intraday high of Rs 29.85 and an intraday low of Rs 26.05. The total trade volumes were of 2,139,694 shares. Meanwhile, the share rose 96.91% in last one year.

How far is it from its 52-week high/low?

The company touched its 52-week high Rs 30.90 and 52-week low Rs 13.20 on 15 Apr, 2011 and 20 May, 2010, respectively. Currently, it is trading -7.28% below its 52-week high and 117.05% above its 52-week low. Its market capitalisation stands at Rs 461.56 crore.

The company's trailing 12-month (TTM) EPS was at Rs 7.76 per share. The stock's price-to-earnings (P/E) ratio was 1.73. The latest book value of the company is Rs -38.09 per share. At current value, the price-to-book value of the company was -0.35.

Management say:

Last month, Satish Chandra, Chairman, Madras Fertilizers speaking to CNBC-TV18, said, "We have prepared a Board for Reconstruction of Public Sector Enterprises (BRPSE) note and that is under circulation of the inter-ministerial consultation. We hope to get the approvals soon."

"And as far as the conversion of this old plant is concerned, we need around Rs 360 crore to replace old parts and to change over from naphta to natural gas," he added.

Also read: Madras Fertilizers mulls revamp, expects nod very soon

About the company:

Established in 1966, Madras Fertilizers Limited is a Public Sector Undertaking  under administrative control of the Department of Fertilizers, Ministry of Chemicals and Fertilizers. Madras Fertilizers Limited has  been serving the Nation for the past 40 years since plant commissioning in 1971.

Madras Fertilisers was incorporated on December 8, 1966 as a joint venture between GOI and AMOCO India incorporated of USA (AMOCO) in accordance with the Fertilizer Formation Agreement executed on 14.5.1966 with equity contributions of 51% and 49% respectively. 

In accordance with the participation agreement between GOI, AMOCO and National Iranian Oil Company (NIOC), an undertaking of Government of Iran, NIOC acquired 50% of the shareholding of AMOCO in MFL on 22.11.1972. With this acquisition, shareholding of AMOCO and NIOC were at 24.5% each, with the balance 51% being held by GOI.  

Subsequently, on 22.7.1985, the shareholding of AMOCO was proportionately purchased by GOI and NIOC.  As a result, GOI and NIOC shareholding was revised to 67.55% and 32.45% respectively. Subsequent to the issue of rights shares in 1994 for part-financing the project, the holding of GOI and NIOC stood at 69.78% and 30.22% respectively. MFL had an initial public offering of its shares in May 1997.

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