Strong Q4 show eggs on Clariant Chemicals

Clariant Chemicals rose 0.80% to Rs 302.05, in a weak market, after posting brilliant Q3 December 2006 resultsAs many as 16,870 shares were traded in the counter on BSE.

The scrip of Clariant Chemicals has declined since mid-January 2007. From a high of Rs 353.20 on 19 January 2007, it dropped to Rs 299.65 by 22 February 2007. Earlier, the scrip appreciated from Rs 298.10 on 12 December 2006 to Rs 353.20 by 19 January 2007.

At the current market price of Rs 302.05, Clariant Chemicals trades at 27.21 times its Q3 December 2006 annualized EPS of Rs 11.10.

Clariant Chemicals posted a net profit growth of 460.60% to Rs 7.40 crore in Q3 December 2006 compared with Rs 1.32 crore in Q3 December 2005. Net sales for the quarter rose 138.20% to Rs 228.20 crore from Rs 95.81 crore in the year ago quarter.

Clariant Chemicals (India) was formed by merger of five companies: Colour Chem, Clariant India, Vanavil Dyes and Chemicals, BTP India and Kundalika Investments. Ebito Chemiebeteiligungen holds 70.10% stake in the company.

Clariant Chemicals (India) now manufactures and trades a full range of dyes, intermediaries, pigments, specialty chemicals, masterbatches and caters to various industries like paints, textiles, paper, cements, plastics, detergents and personal care products