Meanwhile, the S&P BSE Sensex was down 242.07 points, or 0.82% to 29,243.38.

On the BSE, 82,000 shares were traded in the counter so far, compared with average daily volumes of 75,050 shares in the past one quarter. The stock had hit a high of Rs 308 and a low of Rs 275 so far during the day. The stock hit a record high of Rs 332.40 on 1 March 2017. The stock hit a 52-week low of Rs 25.25 on 6 May 2016.

The stock had outperformed the market over the past one month till 21 March 2017, rising 8.11% compared with 2.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 80.87% as against Sensex's 12.36% rise.

The small-cap company has equity capital of Rs 12.60 crore. Face value per share is Rs 10

Fiberweb (India) announced that it has planned increase in sale of converted products which have much better margins than normal products. Earlier in October 2016, the company's customers from USA had visited the firm's production facilities at Daman and they were satisfied with the international standard of production facility, stringent quality control parameters and machineries as well as ambience. They confirmed the company's facilities are as per approved FDA Standard.

Fiberweb (India) said it is supplying some products to the US-based company which supplied to Lowe's Company for Wal-Mart Departmental Stores in USA. Wal-Mart is renowned biggest retail chain in the world. With a view to give larger order and make Fiberweb (India) accredited supplier, Lowe's had send special auditors for surprise audit of Fiberweb (India). The auditors were very pleased on all the major points of audit and have given favorable report. They have advised Fiberweb (India) to also ensure that security contractor and other supplier to the company must be insisted to follow international standard and follow all government rules.

All the above facts have now opened a floodgate of orders for converted products to the prestigious customer like Wal-Mart. Fiberweb (India) said it will have sufficient orders once it expands its capacity as planned.

Net profit of Fiberweb (India) rose 4.39% to Rs 4.04 crore on 63.58% rise in net sales to Rs 26.50 crore in Q3 December 2016 over Q3 December 2015.

Fiberweb (India) makes and exports garbage bags and carrier bags. The company has also established its flagship unit for spun bond nonwoven fabrics, being the first of its kind in India.