Share price of one of the leading sugar manufacturing companies in India hit a 20 upper circuit at Rs. 54.52 in the trading session of Thursday, after reporting Q1 FY24-25 financial results with a rise in net profit by 357 percent QoQ.
With a market capitalisation of Rs. 613.8 crore, at 11:56 a.m., the shares of KCP Sugar and Industries Corporation Limited were trading in the green at Rs. 53.98, up by 18.8 percent, compared to its previous closing price of Rs. 45.44.
Financial Results:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Wednesday post-market hours.
The consolidated revenue from operations stood at Rs. 88.7 crores in Q1 FY24-25, indicating a growth of 20.3 percent QoQ from Rs. 73.7 crore in Q4 FY23-24, while on a year-on-year basis, it declined by 7.4 percent from Rs. 95.8 crore in Q1 FY23-24.
Also read
KCP Sugar witnessed a rise in the profit after tax (PAT) by 357.6 percent QoQ from Rs. 11.8 crore in Q4 FY23-24 to Rs. 54 crore in Q1 FY24-25, and grew by 76 percent YoY from Rs. 30.7 crore in Q1 FY23-24 to Rs. 54 crore in Q1 FY24-25.
In the first quarter of the 2024-25 fiscal year, KCP Sugar significantly reduced its total expenditure by nearly 14 percent to Rs. 73.6 crore compared to Rs. 85.5 crore in Q1 FY23-24.
Stock Performance
The stock has delivered multibagger returns of nearly 118.5 percent in one year, and around 48.7 percent of positive returns in the last six months. So far in 2024, the shares of KCP Sugar have given positive returns of about 49.2 percent.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters hold a 40.59 percent stake in the company, Foreign Institutional Investors (FII) hold a 0.04 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 59.36 percent and 0.02 percent stake in KCP Sugar, respectively.
As of March 2024, the ace investor Dolly Khanna owns nearly 16.1 lakh equity shares, representing a 1.42 percent stake, in the company.
About the company:
Incorporated in 1995, KCP Sugar and Industries Corporation Limited is mainly engaged in the business of manufacturing of sugar & industrial alcohol and acetic acid.
The company’s allied business consists of manufacturing and marketing of rectified spirit, extra neutral alcohol, ethanol, incidental cogeneration of power, organic manure, mycorrhiza vam, calcium lactate and CO2.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
