Robust Q4 results: This micro-cap company hits the upper circuit!

Shares of the company saw a spurt in volume by more than 6.71 times on BSE.

Today, Ecoplast Ltd on a consolidated basis has reported robust Q4 results in its net profit to Rs 3.30 crore, which increased by 1,037 per cent as compared to Rs 0.29 crore in the same quarter last year. The total income of the company increased by 11.08 per cent to Rs 29.26 crore as compared to Rs 26.34 crore in the same quarter last year.

Shares of Ecoplast Ltd locked in the upper circuit at Rs 107.48 increased by 20 per cent compared to the previous day’s closing of Rs 89.57 and touched a new 52-week high. The share price opened at Rs 107.48 and touched the same high and low of Rs 107.48. Shares of the company saw a spurt in volume by more than 6.71 times on BSE.

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Ecoplast Ltd is in the business of manufacturing and selling polyethylene films for flexible packaging and other speciality applications. The films currently manufactured are known as multilayer films produced by the blown film Co-extrusion process.

The company further expanded its multilayer film production capacity by 2500 MT in 1995. The company commenced exports of films to converters in the Middle East in the year 2000. Since then, exports have grown at the rate of 50 per cent per year, to 1200 MT in the year ended March 31, 2003.