Sugar stock engaged in manufacturing and processing of sugar and allied products and also in cogeneration of power hit a 20 percent upper circuit in the day’s trade upon posting its Q4FY24 results with a 1,723 percent jump in Net profits.
India is the world’s second-largest producer and consumer of sugar, accounting for about 15 percent of global sugar consumption and 20 percent of global sugar production. During the forecast period between 2023 and 2029, India’s branded sugar market size is projected to grow at a CAGR of 9.5 percent reaching a value of USD 1,472.12 million by 2029.
With a market capitalization of Rs. 167 Crores, the shares of Indian Sucrose Limited hit a 20 percent upper circuit in the day’s trade at Rs. 96.32, from its previous day’s close price of Rs. 80.27.
Its revenue from operations grew by 38 percent YoY from Rs. 189.22 Crores in Q4FY23 to Rs. 260.87 Crores in Q4FY24 and it grew by 297 percent QoQ from Rs. 65.79 Crores in Q3FY24 to Rs. 260.87 Crores in Q4FY24. Annually it generated a revenue of Rs. 451.77 Crores in FY23 and Rs. 528.62 Crores in FY24 indicating a growth of 17 percent YoY.
Its Net Profit grew by 38 percent YoY from Rs. 23.31 Crores in Q4FY23 to Rs. 32.09 Crores in Q4FY24 and it grew by 1,723 percent QoQ from Rs. 1.76 Crores in Q3FY24 to Rs. 32.09 Crores in Q4FY24. Annually it generated a profit of Rs. 29.54 Crores in FY23 and Rs. 32.77 Crores in FY24 indicating a growth of 11 percent YoY.
Indian Sucrose Limited is engaged in the business of manufacturing and processing of sugar and allied products and also in cogeneration of power. It has an installed capacity of 9000 TCD and the company’s current aggregate power generation capacity stands at 22 MW
It has reported a return on equity (ROE) of 16.5 percent, a return on capital employed (ROCE) of 17.2 percent, and a debt-to-equity ratio of 0.97.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
