During Thursday’s trading session, the shares of the company in the business of manufacturing tea, sugar, chemicals & fertilisers surged nearly 9 percent to Rs. 140 on BSE, after reporting a rise in net profit by nearly 163 percent YoY in Q2 FY25 and terminating demerger.
With a market cap of Rs. 398 crores, the shares of Jay Shree Tea & Industries Limited closed in the green at Rs. 137.8, up by nearly 7.11 percent, as compared to its previous closing price of Rs. 128.65.
What’s the news:
The fluctuations in the share prices were observed after Jay Shree Tea & Industries Limited announced the financial results for Q2 FY25, through the recent filings with the stock exchanges on Thursday during market hours.
For Q2 FY25, Jay Shree Tea & Industries Limited reported revenue from operations of Rs. 301.4 crores, reflecting a significant growth of around 87.8 percent QoQ from Rs. 160.5 crores in Q1 FY25, and increased by about 30.3 percent YoY from Rs. 231.3 crores in Q2 FY24.
The company’s net profit for Q2 FY25 grew to a profit of Rs. 30.5 crores, marking a substantial turnaround from a loss of Rs. 9 crores in Q1 FY25, and a year-on-year growth of nearly 163 percent from Rs. 11.6 crores in Q2 FY24.
Additionally, the company’s Board has decided to terminate the proposed Scheme of Arrangement for demerging the Sholayar & Kallyar Tea estates of the company into a wholly owned subsidiary, Bidhannagar Tea Co. Private Limited. The application previously submitted to the Stock Exchanges will also be withdrawn.
Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 50.68 percent stake in the company, Foreign Institutional Investors (FII) hold a 4.87 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 43.89 percent and 0.55 percent stake in Vasa Denticity, respectively.
Stock Performance:
The stock has delivered positive returns of nearly 42.4 percent in one year, as well as around 33.3 percent returns in the last six months. So far in 2024, the shares of Jay Shree Tea & Industries have given positive returns of about 25 percent.
About the company:
Jay Shree Tea & Industries Limited is engaged in the business of manufacturing of tea, sugar, chemical and fertilisers, besides tea warehousing and investment activities.
In FY24, the company’s tea segment contributed 55.81 percent to the gross turnover, followed by sugar at 27.59 percent, and chemicals & fertilisers at 16.60 percent.
Written by Shivani Singh
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