Bannari Amman Spinning Mills Ltd | Colourful Performance | Investing | Share Market Advise | Share Guru Weekly
The company has an installed capacity of 1,44,240 spindles, and 153 looms. Its fabric processing capacity is 3,600 tons, knitted fabric 7,200 tons and garments 60 lakh pieces. By launching innerwear and garments under the brand name of Bitz, the company entered the retail market. As the stabilisation of the production process, the yarn production increased to 90 tons from 75 tons. The new garments unit constructed at Palladam in Tirupur district of Tamil Nadu will commence commercial operations soon. In 2017-18, the company produced 27,618 tons of yarn and 8,217 tons of waste cotton. Its weaving division achieved an output of 1.17 crore metres of fabric. The power division owns 32 windmills which produce 29.95 MW of power.
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In the quarter ending December 2018, with improved working, it earned a net profit of Rs 4.48 Cr versus a net loss of Rs 2.57 Cr in the year-ago three months. The net profit in the first nine months of FY19 increased to Rs 17 Cr from Rs 10.23 Cr in the corresponding period of the earlier year. Its nine months net profit is higher than the Rs 7.36 Cr in the previous full year. In the minuscule equity of Rs 15.75 Cr, promoters are controlling 55.55% stake. It has been consistently paying dividends for the last five years. It paid a dividend of Rs 1.60 per share or 16 percent for 2017-18. As on December 31, 2018, the book value was Rs 200 per share of Rs 10 (face value). The stock is available at an attractive price of about Rs 185 which is between the 52-week high of Rs 292 and low of Rs 157.
BSE Code: 532674
Face Value: Rs 10.00
Market Price: Rs 183.15/-
As on 22 Feb 19 | 16:00 | All Prices in INR