Shares of this micro-cap stock associated with the sugar industry hit the 5 percent upper circuit during the past couple of trading sessions. The company’s stock has jumped nearly 30 percent in the last one month period.
With a market capitalization of Rs 32 crores, the stocks of Ravalgaon Sugar Farm Limited opened their trading hour on Wednesday at Rs 4,760.40 hitting the 5 percent upper circuit. Currently, the company’s stock is locked at the same price.
At the start of November 2023, the company intimated that its Board of Directors fixed 24th November 2023 as the Record Date to ascertain the eligibility of the shareholders for a stock split in the ratio of 1:5, i.e., sub-division of one fully paid-up equity Share of Face Value of Rs 50 each into five fully paid-up equity shares of Face Value of Rs 10 each.
Having a look at the company’s financials during the past couple of years, the revenues have turned positive, but, due to increased raw material and other costs, the company has still reported negative bottom-line numbers.
Apart from the above, the company has reported deep negative profitability ratios with a recent jump in the debt-to-equity ratio from 2.25 times during FY21-22 to 4.54 times during FY22-23.
As per the shareholding data available for the September 2023 quarter, the company’s Promoters hold a 53.3 percent stake followed by the Public (retail) investors holding a 46.64 percent stake in the company.
Founded in 1933, Ravalgaon Sugar Farm Limited is a company based in India operating in the ‘confectionery’ industry, i.e., a process of making hard-boiled sweets and toffees, under the “Ravalgaon” brand.
Written by Amit Madnani
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