Share price of this multibagger micro-cap stock moved up by nearly 1.74 percent to Rs. 97 on BSE in the morning trading session of Monday, compared to its previous closing price of Rs. 95.34, after the company announced an acquisition worth Rs. 14.6 crore.
With a market capitalisation of Rs. 331.15 crores, Uma Exports Limited has delivered about 124.2 percent of multibagger returns in one year and nearly 85.7 percent of positive returns in the last six months. So far in 2024, it has given positive returns of around 67.1 percent.
According to recent regulatory filings with the stock exchanges, the Hon’ble National Company Law Tribunal, Kolkata Bench, has approved the Resolution Plan of Uma Exports Limited for the acquisition of Swastik Oil Refinery Private Limited.
The company has acquired Swastik Oil Refinery Private Limited at a consideration of nearly Rs. 14.6 crore, and with this acquisition, Uma Exports has entered into edible oil manufacturing.
Swastik Oil Refinery Private Limited (SORPL) is a private company engaged in the business of manufacturing of oil having its registered office in Kolkata.
In terms of financials, the company’s revenue from operations increased by 51.08 percent on a quarter-on-quarter basis from Rs. 285.84 crore in Q2 FY23-24 to Rs. 431.85 crore in Q3 FY23-24.
The net profit of the company also increased by 315.15 percent to Rs. 1.37 crore in Q3 FY23-24 from Rs. 0.33 crore in Q2 FY23-24.
Incorporated in 1988, Uma Exports Limited is engaged in the business of trading and marketing of agricultural produce and commodities including rice, wheat, corn, sugar and spices.
The company was initially engaged in exporting building materials such as marble, granite, marble chips, etc., to the neighbouring country, Bangladesh.
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.
