Kingfa Science and Technology soars 5 per cent
Kingfa Science and Technology reported its results for the quarter ended December 31, 2017 on Thursday. The company's standalone revenue for the quarter came in at Rs. 163.99 crore, registering 30.8 per cent yoy increase.
EBITDA for the quarter rose by 136.5 per cent yoy to Rs. 11.8 crore with a corresponding margin expansion of 322 bps. EBITDA margin for the quarter stood at 7.2 per cent. The PAT for the quarter came in at Rs. 8.17 crore, yoy increase of 496.4 per cent. This was partly driven by almost 80 per cent yoy decline in interest expenses.
Kingfa Science & Technology (India) Limited, formerly Hydro S & S Industries Limited, is engaged in the manufacturing of modified thermoplastics business. It manufactures and supplies reinforced polypropylene compounds, thermoplastics elastomers and fibre reinforced composites. Its products and materials are used in automobile, electronic appliances, industrial equipment, consumer goods, packaging and toys, among others.
On Thursday, the stock opened gap up at Rs. 1,000 as against its previous close of Rs. 978.25. Later stock surged and locked in upper circuit of Rs. 1,027.15, on the BSE.