The shares of one of the leading players in the edible oil industry gained 5 percent to an intraday high price of Rs 129.80 per share after the company commenced operations at its Krishnapatnam Refinery Plant.
Gokul Agro Resources Ltd is a small-cap company with a market capitalization of Rs 1,863 crore. On Thursday, At 12:44 p.m, the company’s shares were trading at Rs 125.70 apiece, up 1.86 percent.
According to the company’s exchange filing, on 29th November 2023, the Company commenced commercial operations of edible oil at the Krishnapatnam refinery Plant located at SPSR Nellore District, Andhra Pradesh.
At Krishnapatnam refinery Plant has a Refinery capacity of 1,000 Tpd and the company’s Kandla unit has a refinery capacity of 2,800 Tpd.
In FY 22-23, the company’s revenue mix is 89% edible oils and by-products, 10% non-edible oils and by-products, 8% vanaspati, and 3% de-oiled cake/oil cake.
In FY23, the company exported 10% of the Total income. The company exports products to over 36 countries and 20 Indian states. France, Singapore, the United States, Germany, Japan, the Netherlands, Belgium, the United Kingdom, China, and South Korea are among its significant foreign markets.
The Company’s top 5 clients contribute to 20-25% of the overall revenue. Its clients include Parle, ITC Ltd, Britannia Industries Ltd, Godrej Industries Ltd, et
The company is engaged in the business of manufacturing and processing various kinds of Edible and non-edible oils and meals. The company markets its edible oil portfolio under the brand name Vitalife, Mahek, Richfield & Puffpride.
Gokul Agro Resources shares have delivered a return of 25 percent in the last six months and 8 percent in a year.
According to financials, operating revenues increased by 48 percent year on year from Rs 2,776 crore in Q2FY23 to Rs 4,118 crore in Q2FY24, while net profit increased by 14 percent over the same period, from Rs 29 crore to Rs 33 crore.
As per the latest shareholding pattern, the company’s promoters hold 72.56 percent, while retail investors hold a 27.38 percent stake in the company.
Written by Omkar Chitnis
