Shares of this largest manufacturer of starch and its derivatives products rose nearly 3% on Friday’s second half after the company board fixed the record date for the stock split in the ratio of 1:2.
Share price variations:
With a market capitalization of Rs. 898.27 crores, Sukhjit Starch & Chemicals Limited rose to an intraday high of Rs. 580.00 representing a 2.7% increase from its previous closing price of Rs. 564.55 per share.
Reason for the Rise:
According to exchange filings, Sukhjit Starch & Chemicals Limited’s board has approved a stock split in the ratio of 1:2 which means a Sub-division/ split of 1 equity share having a face value of Rs. 10 each into 2 equity shares having a face value of Rs. 5 each having 25th of October as the record date.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 29.5% to Rs. 13.82 crores compared to Rs. 10.67 crores in Q1FY24, while revenue from operations marked an increase of 22.38 % to Rs. 395.13 crores from Rs. 322.85 crores in comparison to the same period.
About the company:
Sukhjit Starch & Chemicals Limited is an agro-processing company specializing in the production of starch and its derivatives, such as liquid glucose, dextrose monohydrate, dextrose anhydrous, sorbitol, modified starches, and related by-products.
It has become one of India’s largest manufacturers of starch and its derivatives, with multiple manufacturing units located in Punjab, Nizamabad, West Bengal, and Himachal Pradesh.
Written By: Joseph Pv
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