The shares of the Madhya Pradesh top soybean producer rose 16 percent to a 52-week high of Rs 89.90 per share on Tuesday after the company published solid June quarter financial results.
At 12:35 p.m. Kriti Nutrients Limited shares were trading at Rs 88.20 a share, up Rs 11.10 or 14.40 percent on the National Stock Exchange.
According to the company’s exchange filing, Kriti Nutrients Limited reported a 9 percent increase in revenue from Rs 193 crore to Rs 211 crore compared to the same quarter last year.In addition,a 500 percent increase in net profit from Rs 2 crore to Rs 12 crore over the same time period for the quarter ending June 2023, i.e., Q1FY23-24.
The stock has risen 84.42 percent in the previous six months and 63 percent in the last year.
As per company’s financial statements, operating revenue increased by 16 percent from Rs 181 crore to Rs 211 crore in Q1FY23-24 compared to the previous quarter (Q4 FY 22-23). Net profit climbed by 140 percent from Rs 5 crore to Rs 12 crore during the same period.
Kriti Nutrients Ltd extracts soybean seed, refined soya oil, and manufactures value-added protein-based products for use in specialised applications in the food and pharmaceutical industries and Company markets its products in South East Asian countries.
The profitability ratios of the company have improved, with Return on Equity growing from 10.93 percent to 15.71 percent and Return on Capital Employed rising from 15.80 percent to 22.55 percent.
According to the latest shareholding pattern, promoters own 68.66 percent of the company, while retail investors own 33.34 percent as of FY 22-23.
Written by Omkar Chitnis
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