Share prices of this Agro-processed business gained 7.5% after the company decided to increase production of one of its major products.
Gujarat Ambuja Export Limited shares prices opened at Rs. 246.35 on Thursday’s session. It rallied in the early hours to reach an intra- day high of Rs. 264.30. The stock has given a return of 151.9% in 3 years and 130.86% in the last 5 years.
On 23rd August 2023, GAEL received consent from the Gujarat Pollution Control Board for setting up a 900 TPD Greenfield Corn Wet Milling Plant to be established at Himmatnagar, Gujarat. The company will increase its maize processing capacity to 600 TPD and expand into 5 different locations in total.
Net profit for Q1FY24 increased by 2.04% from Rs. 69.48 crore to Rs. 70.9 crore. The company made a total revenue of Rs. 1162.9 this quarter which is a fall of 18.59% from Rs. 1428.5 crore in the last quarter. It has a market capitalization of Rs. 5,646.42 crore.
Currently, the stock is currently undervalued as it holds a P/E Ratio of 19.65 against its average industry P/E ratio of 22.3
Gujarat Ambuja Export Limited is a manufacturing company which focuses on agro- processed products such as processing of maize, oil seeds and wheat. Other than that, the company is also involved in exports, indigenous markets, pharmaceuticals and feed industry.
Written by Bhumika Khandelwal
