Introduction: The share price of this firm engaged in the manufacturing of yeast hit 20 percent upper circuit to an intra-day high of Rs 82.95 apiece after the company announced the completion of its manufacturing facility for the production of yeast-based protein in alliance with NextFerm Technologies Limited.
Share price movement: With a market capitalization of Rs 124.43 crores, the shares of Kothari Fermentation & Biochem Limited hit 20 percent upper circuit and closed at Rs 81.97 per share. The shares of this company generated an overall return of 45 percent over the past year and 8 percent over the past month.
What happened: According to stock exchange filings, the firm has announced that it has completed its manufacturing facility for the production of Yeast-based protein in Alliance with Nextferm Technologies Limited.
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The plant and equipment was supplied by NextFerm Technologies Limited and the installation has been completed at the manufacturing facility of Kothari Fermentation & Biochem Limited at Sikandrabad Distt. Bulandshahr, UP. In the first quarter of FY2024-25, manufacturing operations of the yeast-based proteins has been commenced in the plant after successful trial runs, according to stock exchange filings.
Financials: Reviewing the financials of Kothari Fermentation & Biochem Limited on a year-on-year basis, the sales declined by 0.9 percent from Rs 110 crores in FY23 to Rs 109 crores in FY24.The net profits witnessed a break-even in FY23 and then transitioned into a net loss of Rs 5 crores in FY24.
Ratios: As of March 2024 the debt-to-equity ratio of the firm stood at 0.84 times.
Client base: Kothari Fermentation & Biochem Limited caters to prominent clients such as Haldirams, ITC, Biocon, Parle, Britannia, etc.
Shareholding Pattern: As of March 2024, Kothari Fermentation & Biochem Limited’s shareholding pattern stood at 74.91 percent for promoters, and the rest 25.08 percent held by the public.
About the Company: Incorporated in the year 1990, Kothari Fermentation and Biochem Ltd is a manufacturer of Yeast and its derivatives. The Company exports its products to various countries and develops technologies for various yeast-based products needed for bakeries, distilleries, feeds, foods, pharmaceuticals, and biotech industries.
Written by Zahal
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