The company made the announcement during market hours today, 6 October 2015.

Meanwhile, the S&P BSE Sensex was up 136.40 points or 0.51% at 26,921.95.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 11,422 shares in the past one quarter.

The stock hit a high of Rs 117.50 and a low of Rs 98.05 so far during the day. The stock had hit a 52-week high of Rs 144.80 on 1 April 2015. The stock had hit a 52-week low of Rs 56.15 on 9 January 2015.

The stock had outperformed the market over the past one month till 5 October 2015, surging 12.47% compared with the Sensex's 6.28% rise. The scrip had, however, underperformed the market in past one quarter, declining 9.65% as against Sensex's 4.65% fall.

The small-cap company has equity capital of Rs 26.55 crore. Face value per share is Rs 10.

As per settlement terms with the Punjab National Bank (PNB), total outstanding debt of Kiri Industries was Rs 156.85 crore and total settlement amount is Rs 86.50 crore out of which the company has paid Rs 21.25 crore upfront and balance Rs 65.25 crore payable in 12 equal monthly installments with simple interest at 10% per annum (p.a). Further if the company fails to pay two consecutive installments to PNB then entire settlement will stand cancelled and the company will be liable to pay entire outstanding debt of Rs 156.85 crore along with interest, Kiri Industries said.

On consolidated basis, Kiri Industries' net profit fell 7% to Rs 70.12 crore on 31.6% decline in net sales to Rs 191.38 crore in Q1 June 2015 over Q1 June 2014.

Kiri Industries is one of the largest manufacturer and exporter of wide range of dyes, intermediates and chemicals.