On Thursday the small-cap stock price rose 6.2 percent to its intraday high of Rs 131.85 from its previous close of Rs 124.15 after the company announced the acquisition of a 25 percent stake in Indonesia-based company.
According to the filling of Gokul Agro Resources Ltd, the company has acquired a 25 percent stake in PT. Riya Pasifik Nabati in Indonesia by a step-down subsidiary of the company Maurigo Indo Holdings Pte. Ltd. is based in Singapore.
PT. Riya Pasifik Nabati is processing, manufacturing & trading of palm oil and other allied agricultural products. This acquisition will provide a global presence and expand the Gokul Agro Resources business.
According to the Gokul Agro Resources Ltd report, the net revenue increased by 48 percent year over year, from Rs 2,775 crore in Q2FY23 to Rs 4,118 crore in Q2FY24. Their revenue rose by 66 percent sequentially from Rs 2,468 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 14 percent year over year, from Rs 29.4 crores in Q2FY23 to Rs 33.7 crores in Q2FY24. Their profit increased by 40 percent on a quarterly basis from Rs 24 crore in Q1FY24 to the current levels.
In comparison to its peers, the company has a low price-to-earnings ratio of 13, as well as a low debt-to-equity ratio of 0.72, a return on equity ratio of 23, a return on capital employed ratio of 28, and a good current ratio of 1.31.
Gokul Agro Resources Ltd is a small-cap company with a market capitalization of Rs 1,923 crores has risen 22 percent in the last six months.
The promoter owns 72.5 percent of the company, the general public owns 27.3 percent, and foreign institutional investors own 0.2 percent.
Gokul Agro Resources Ltd manufactures and processes a variety of edible and non-edible oils and meals. The company has a manufacturing facility in Gandhidham, Gujarat, India. Its edible oil portfolio includes brands such as Vitalife, Mahek, and Zaika. Brands in Vanaspati’s portfolio include Richfield and Puffpride.
Written by Sriram KV
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