Shares of this alcohol stock under the ‘small-cap’ category hit the 5 percent upper circuit in Tuesday’s trading session after the company announced financial results for Q4FY24, i.e., for the financial quarter ended March 2024. In the past month, the company’s stock has delivered whopping returns of nearly 75 percent to its stakeholders.
With a market capitalization of Rs 4,933 crores, the stocks of Piccadily Agro Industries Limited started their trading session on Tuesday hitting its 5 percent upper circuit at Rs 522.90 and, currently, the stock is locked at the same price.
Such sharp movements in the share price were witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for Q4FY24, viz, for the financial quarter ended March 2024.
On a sequential basis, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, reported movements in opposing directions with the former, on one end, increasing from Rs 192 crores during Q3FY24 to Rs 285 crores during Q4FY24, and the latter, on the other end, slipping slightly from Rs 45 crores to Rs 43 crores.
Comparing Q4FY23 v/s Q4FY24, the metrics mentioned above showed a stellar performance with the operating revenues jumping from Rs 208 crores to Rs 285 crores, and the net profits, keeping the timeframe the same, shifting up from Rs 5 crores to Rs 43 crores representing an increase of 760 percent.
In addition, the company’s ratio analysis portrays the return ratios, i.e., the return on equity (RoE) as well as the return on capital employed (RoCE), being reported at decent numbers during FY24 with the former reported at 10 percent and the latter at 15.20 percent.
Keeping a purview of the last one year, the company’s stock has delivered multibagger returns of approximately 1,000 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 11 lakhs.
Piccadily Agro Industries Limited is an India-based company engaged in the manufacturing of sugar, molasses, power, and bagasse. It is also involved in manufacturing rectified spirit, rice, wheat, and malt and converts resin into pet bottles. The company operates via two broad segments, viz, the ‘Sugar’ and ‘Distillery’ business segments.
Written by Amit Madnani
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