The shares of this FMCG company surged up to 13 percent after announcing strong Q2 FY24 results. The stock has delivered 13 percent returns to its shareholders in six months.
With a market capitalization of Rs. 261.17 crores, Bambino Agro Industries Ltd’s shares opened its Friday trading session flat at Rs. 322 compared to its previous close of Rs. 326. The share hit a high of Rs. 376 making a gain of around 13 percent and currently trading at Rs. 351 apiece.
Such a positive movement was observed after the company announced its June- September results. The company’s revenue is magnified by 35 percent from Rs. 76.76 crores in the June quarter to Rs. 104.37 crores in the September quarter. In addition, the net profit increased by 51 percent from Rs. 3.18 crores to Rs. 4.81 crores during the same period.
Comparing these metrics on a YoY, the revenue improved by 10 percent from Rs. 94.81 crores in Q2 FY 23 to Rs. 104.37 crores in Q2 FY 24. Furthermore, the net profit jumped by 19 percent from Rs. 4.04 crores to Rs. 4.81 crores during the same horizon.
Looking at the important financial ratios, the return on equity slipped from 12.3 percent during FY21-22 to 11.56 percent FY 22-23 and the return on capital employed declined from 13.55 percent to 11.27 percent during the same timeframe.
According to the latest shareholding pattern, Promoters have a 74.96 percent stake in the company, and the remaining 25.04 percent is with the Public or Retail Investors.
Headquartered in Secunderabad, Bambino Agro Industries Ltd was incorporated in the year 1983. The company is one of the largest vermicelli producers in South East Asia which is made out of Durum wheat semolina (Suzi/rawa). It is part of the diversified Bambino Group having interests in FMCG Products.
Written By Vaibhav Patil.
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