Meanwhile, the S&P BSE Sensex was down 344.89 points or 1.45% at 28,443.90.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 70,407 shares in the past one quarter. The stock was volatile. The stock surged as much as 5.33% at the day's high of Rs 189.40 so far during the day. The stock lost as much as 4.06% at the day's low of Rs 172.50 so far during the day. The stock had hit a record high of Rs 364 on 23 July 2015. The stock had hit a 52-week low of Rs 168 on 12 February 2016. The stock had underperformed the market over the past one month till 22 February 2016, sliding 17.03% compared with Sensex's 2.65% fall. The scrip had also underperformed the market in past one quarter, declining 23.26% as against Sensex's 8.04% fall.

The small-cap company has equity capital of Rs 13.60 crore. Face value per share is Rs 10.

Salzer Electronics said that it has signed of a distribution agreement with IPD Group Limited of Australia for marketing and selling of Salzer branded electrical products for solar photovoltaic applications in Australia and NewZealand. This understanding with IPD opens to Salzer a large new market for its internationally tested and approved products, Salzer Electronics said in a statement.

IPD Group Limited of Australia is a leading electrical distributor/wholesaler and manufacturer in Australia.

Salzer Electronics' net profit rose 56.8% to Rs 3.45 crore on 31.9% growth in net sales to Rs 88.94 crore in Q3 December 2015 over Q3 December 2014.

Salzer Electronics operates in four segments namely switchgear, building segment, wires & cables and energy management.