Scripscan:JVL Agro Industries Ltd
cmp:13
Code:519248
Story:JVL Agro Industries, formally known as Jhunjhunwala Vanaspati was up in the green yesterday, up 3%. The stock rose after the company announced that expansion at its Alwar plant was to be implemented before the next season of mustard seed, starting in February/March 2012. Post this expansion, its mustard seed crushing capacity will increase from 200 metric ton per day (MTPD) to 400 MTPD, which in turn, will reduce the company's dependence on others for the feed for solvent extraction plant. The capacity of company's solvent extraction plant will increase from 250 MTPD to 450 MTPD. The storage capacity of seed will increase by 4,400 metric ton (MT) by installing new silos. This will help in increasing the seed storage capacity in the plant and reducing the storage/handling/wastage expenditure incurred on storing seed outside the factory in private warehouse.The company has been a steady performer. For Q2FY12, on sequential basis, topline rose 13% at Rs.690 crore and net profit was up 15% at Rs.18.53 crore. H1FY12 net profit is at Rs.35 crore as against Rs.54 crore in FY11. Q3, seasonally is a good quarter too. Hence one can expect the company to surpass its FY11 numbers in current fiscal. But it remains a small cap company and given its meager margins it may not attract much attention.Though remains a good hold at present prices.
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