Maxwell Industries, which is engaged in manufacturing and marketing of innerware, has decided to sell their non-operative unit in Navi Mumbai.
Will be comfortable with working capital debt levels of Rs 60 crore
R Venkatraman
CFO & COO
Maxwell Industries
Maxwell Industries has been in the limelight on the news that the company, which is engaged in manufacturing and marketing of innerware, has decided to sell their non-operative unit in Navi Mumbai. The stock succumbed to some profit booking today post a stellar rally on Tuesday.
In an interview to CNBC-TV18, R Venkatraman, CFO & COO, Maxwell Industries, said the deal is for Rs 9 crore and the company is in the process of liquidating all its non-core businesses. He said the company will now be focusing more on the garmenting business and brand-building.
From this fund, the debt will get released, said Venkatraman adding that the company does not have any long-term debt on books, except the working capital borrowing. He expects to book profit of Rs 7 crore from the deal.
Maxwell Ind stock price
On October 08, 2014, at 14:14 hrs Maxwell Industries was quoting at Rs 25.60, down Rs 0.4, or 1.54 percent. The 52-week high of the share was Rs 31.65 and the 52-week low was Rs 13.10.
The company's trailing 12-month (TTM) EPS was at Rs 0.85 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 30.12. The latest book value of the company is Rs 14.41 per share. At current value, the price-to-book value of the company is 1.78.
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