10:1 Stock Split: Penny Stock Under Rs 10; This Sugar Company's Stock Hits Upper Circuit Today, Stock gains over 500 per cent!

The shares of the company have delivered a return of over 520 per cent to its shareholders in just 2 years.

This Small-Cap sugar company in India focuses on the business of sugar manufacturing (by-product molasses) from sugarcane and co-generation of electricity power. Today, the company experienced a significant surge in its share price. At the start of the day's trading session, the stock opened at Rs 9 per share, compared to the previous day's closing figure of Rs 9 per share on the BSE. Finally, it closed the day at Rs 9.90, representing a surge of 10 per cent and hitting the upper circuit today.

The current market capitalization of Davangere Sugar Company stands at Rs 242 crore, and the stock has generated an impressive multibagger return of around 621 per cent in the past three years. On May 31, 2024, the company's stock underwent a stock split, with the face value of each share decreasing from Rs 10 to Rs 1.

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As per the Quarterly Results in Q4 FY24, the company reported a revenue of Rs 63.57 crore compared to a revenue of Rs 88.13 crore, representing a de-growth of 28 per cent YoY. The company’s operating profit reached Rs 10.67 crore compared to a profit of Rs 18.46 crore in Q4 FY23. The operating margin stood at 16.78 per cent. The net profit of the company was Rs 4.55 crore in Q4 FY24 compared to a net profit of Rs 8.57 crore. Turning your attention to the annual performance of the company, it reported a revenue of Rs 217 crore, compared to Rs 280 crore in FY23. The company reported a net profit of Rs 12 crore compared to a profit of Rs 13 crore in FY23.

Investors must keep this small-cap multibagger stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.