The shares of the leading manufacturer and exporter of cotton yarn gained up to 3 percent after the company successfully commissioned a 100 TPD Sorbitol Unit at its existing unit in Hubli, Karnataka.
With a market capitalization of Rs 8,385.65 crore, the shares of Gujarat Ambuja Exports Ltd closed at Rs 367.00 per share, decreasing around 0.61 percent as compared to the previous closing price of Rs 369.25 apiece.
According to the company filing, Gujarat Ambuja Exports Ltd has successfully commissioned a 100 TPD Sorbitol Unit at its existing unit in Hubli, Karnataka. With this, the Company becomes the largest Sorbitol Manufacturer in India with a cumulative capacity of 500 TPD at 4 locations.
Looking into Gujarat Ambuja Exports’s financials, the revenue increased by 15 percent, from Rs 1,130 crore in Q2FY24 to Rs 1,302 crore in Q3FY24. During the same period, net profit increased by 23 percent from Rs 82 crore to Rs 101 crore.
As of FY22-23, The business developed 1,000 TPD corn wet milling units at Sitarganj, Uttaranchal, and started a 1,200 TPD maize processing complex in Malda. In addition, the business inked an MOU with the Gujarat government to develop 900 TPD corn wet milling facilities at Himmatnagar.
In addition, the company has a strong presence in other agro-processing verticals, such as soya bean extraction and edible oil production. With an extraction capacity of 4,500 TPD, GAEL has emerged as one of the country’s largest soya bean extractors.
The Company’s wind farms in Gujarat had a total installed capacity of 8.45 MW, while solar power of 1 MW each in Madhya Pradesh and Maharashtra contributed considerably to its earnings.GAEL aspires to contribute significantly to India’s renewable energy industry growth and development.
Gujarat Ambuja Exports manufactures corn starch derivatives, soybean derivatives, feed ingredients, cotton yarn, and edible oils. GAEL aims to service the Food, Pharmaceutical, Feed, and other sectors through a long-term growth plan in the Agro-Processing industry.
Written by:- Abhishek Singh
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