Stocks of Bajaj Hindusthan Sugar Limited were trading flat during the first half today, but, in the last couple of hours, the stock suddenly zoomed and closed at a price of Rs 15.30, gaining around 11 percent as compared to the previous closing price of Rs 13.80.
In the last six months, the stock has gained around 37.2 percent ranging from Rs 11.15 to the current price levels. The company has a market capitalization of Rs 1,960 crores.
At 12:55 PM, the company’s stock started to move which also marks the time when the company, through a regulatory filing with the BSE, announced its Q4 as well as Annual results for FY2022-23. Details of the same are been discussed later on in the report.
Bajaj Hindusthan Sugar Limited is an India-based Sugar & Ethanol manufacturing company with operating segments including sugar, power, distillery, and others. It generates a majority of its revenue from the ‘Sugar’ segment. The sugar manufacturing process leads to by-products such as Molasses, Fly ash, Press Mud, and Bagasse.
Digging into the quarterly financials reported by the company, the operating revenues marked an increase from Rs 1,431 crores in Q3 to Rs 2,054 crores in Q4. Moreover, the net profits of the company transitioned from net losses of Rs 58 crores in Q3 to net profits of Rs 131 crores in Q4.
Comparing Q4FY21-22 v/s Q4FY22-23, the net profit numbers witnessed a shift from Rs 60 crores to Rs 131 crores representing an increase of around 118 percent.
On a YoY basis, the company was in a position to able to increase its operating revenues from Rs 5,576 crores during FY21-22 to Rs 6,338 crores in FY22-23. Net losses, though still present, became less severe with a reduction from net losses of Rs 268 crores in FY21-22 to net losses of Rs 135 crores in FY22-23.
According to the shareholding pattern data available for the March 2023 quarter, Promoters of the company hold a 24.95 percent stake, and Foreign Institutional Investors (FIIs) hold a 1.69 percent stake in the company.
Written by Amit Madnani
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