Multibagger penny stock under Rs 30: This sugar supplier company entered into a deal worth Rs 150 crore increasing market positioning

Multibagger penny stock under Rs 30: This sugar supplier company entered into a deal worth Rs 150 crore increasing market positioning

Prajwal Wakhare

The stock price has shown multibagger performance in a year by soaring 124.09 per cent.

Sakuma Exports Ltd has successfully signed a substantial deal worth around Rs 150 crore for the supply of sugar to the North East, West Bengal, and Bihar areas. This transaction increases its market position. 

Furthermore, the company said that Sakuma Exports Ltd is actively hunting for similar opportunities in northern India, aiming to expand its operations and capitalize on growing demand in the region. This project shows their dedication to fulfilling the increasing demand for sugar. The company management will always remain dedicated to pursuing opportunities that drive sustainable growth and reinforce our position as a leading player in the agro-commodities sector.

Earlier on April 18, 2024, Rajeev Bhambri & Associates (CP-9491) have been appointed by the board as Secretarial Auditor of the Company for the period 2023-24 and onwards w.e.f. April 18, 2024. Before that, the company had a record date of Rights Issue on April 15, 2024.

Sakuma Exports Ltd. is engaged in Buying, Processing, Marketing, and Exporting bulk agricultural commodities like Sugar, Edible Oils, Oil Seeds, Pulses, Cotton, etc. It also offers innovative financial structured products linked to physical commodities.

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In the Quarterly Results ending December 2023, revenue surged to Rs 779.07 crore, marking quarter-over-quarter (QoQ) growth of 115.47 per cent from Rs 361.57 crore in September 2023, slightly short of the December 2022 figure of Rs 810.93 crore. Net profit for December 2023 was Rs 6.45 crore, up 136.26 per cent QoQ from Rs 2.73 crore in September 2023, nearing the previous year's profit of Rs 7.09 crore.

The shares of Sakuma Exports Ltd are trading near their 52-week high and Foreign Institutional Investors have increased their stake from 0.03 per cent in the December 2023 quarter to 0.21 per cent in the quarter ending March 2024. While the stock price has shown multibagger performance in a year by soaring 124.09 per cent.

This Small-Cap stock is trading at Rs 28.35 with a market capitalization of Rs 890 crores. It is an almost debt-free company with a negligible debt-to-equity proportion of 0.03.

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

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