INEOS Styrolution India will hold a meeting of the Board of Directors of the Company on 27 October 2017.

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INEOS Styrolution India announced the resignation of Bhupesh P. Porwal as a Whole - time Director and Chief Financial Officer of the Company with effect from end of business hours of 31 August 2017.

The Company has appointed Nitankumar Duggal as an additional director and Whole-time Director of the Company with effect from 31 August 2017.(Profile and terms of his appointment already mentioned in the letter dated 09 August 2017.

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The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 183.81 points, or 0.58% to 31,614.03.

On the BSE, 10,000 shares were traded in the counter so far, compared with average daily volumes of 6,141 shares in the past one quarter. The stock had hit a high of Rs 915 and a low of Rs 850 so far during the day. The stock hit a record high of Rs 1,138.90 on 26 July 2017. The stock hit a 52-week low of Rs 538 on 12 August 2016.

The stock had outperformed the market over the past one month till 9 August 2017, rising 3.61% compared with 0.16% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.79% as against Sensex's 5.11% rise. The scrip had also outperformed the market in past one year, rising 53.90% as against Sensex's 14.48% rise.

The small-cap company has equity capital of Rs 17.59 crore. Face value per share is Rs 10.

INEOS Styrolution India said its board approved expansion of ABS compounding capacity at the Moxi plant in Vadodara, Gujarat from 66KTA to 100KTA for an investment of Rs 130 crore. The estimated capital expenditure will be financed through internal group borrowing, for which the approval of the shareholders of the company will be sought through postal ballot for increasing the borrowing limits of the company. The estimated time to complete the expansion project is scheduled by end of the financial year ending March 2019.

INEOS Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS standard and styrenic specialties.

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Net profit of INEOS Styrolution India declined 81.71% to Rs 2.74 crore in the quarter ended June 2017 as against Rs 14.98 crore during the previous quarter ended June 2016. Sales rose 18.22% to Rs 449.17 crore in the quarter ended June 2017 as against Rs 379.93 crore during the previous quarter ended June 2016.

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