On the back of weak December-end quarter results, the shares of Bhansali Engineering Polymers closed over 9 per cent lower to Rs 162.15 per share on the BSE intraday trade on Monday. Both topline and bottom line of the company slipped by double digits on a year-on-year basis. 

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Bhansali Engineering Polymers reported consolidated net profit declined over 44 per cent in the October-December quarter of the financial year 2021-22 at Rs 75.7 crore from Rs 136.3 crore in the same quarter, a year-ago. 

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Similarly, the company's consolidated revenue was down 17 per cent at Rs 341.5 crore in the Q3FY22 as compared to Rs 411.3 crore in the corresponding quarter of FY21. 

Similarly, the consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) tumbled by 47 per cent at Rs 97.7 crore and the margin plunged almost 29 per cent YoY in the Q3FY22.  

Along with the Q3 earnings, the company's board also declared a second interim dividend of Re 1 (100 percent) per equity share of the face value of Re 1 each for the financial year 2021 -22, as per the press statement, and which is subject to deduction of tax at source. 

While, Bhansali Engineering Polymers has fixed January 28, 2022, as the record date for determining the entitlement of shareholders and dividend will be paid on February 15, 2022. 

The stock was briefly trading near Rs 180 per share levels till 12:40 pm, however, it slipped immediate after its results announcement by over 10 per cent to touch a day’s low level of Rs 159.95 per share on the BSE. 

The stock in the last one year has eroded almost all gain and surge mere 7 per cent, as compared to almost 23 per cent rise in the BSE Sensex. While it has registered negative returns, down by over 6 per cent in the last 6 months. 

The counter had hit a 52-week high of Rs 222.50 apiece on October 13, 2021, while a 52-week low of Rs 125.75 per share on January 28, 2021.