Multibagger update: Shares of this sugar company surged 366 per cent in just two years!

Meanwhile, the shares of this multi-bagger have surged 366.7 per cent in two years on the bourses.  Besides, the scrip ended 4.19 per cent higher on BSE today.  

Dwarikesh Sugar Industries Ltd is primarily engaged in the manufacturing of sugar and allied products. It has a strong presence in fields such as sugar manufacturing, power, and ethanol/industrial alcohol production.  

Analysing the financial performance of the company in the recent quarter, its operating profit improved 22.92 per cent from Rs 83.76 crore in Q4FY21 to Rs 102.96 crore in Q4FY22. The company's net profit surged 23.6 per cent to Rs 59.61 crore despite a 20.8 per cent fall in the net sales to Rs 474.96 crore in Q4FY22 compared to Q4FY21.    

Dwarikesh Sugar Industries Limited has recently commissioned a 175 KL per day distillery at its Dwarikesh-Dham (Faridpur) unit in Bareilly district.  

Cane juice syrup and B-heavy molasses will be used by the plant as feedstock for ethanol production. The commissioning was completed on time, in line with the company's proud record of commissioning all its plants on time. The establishment of the distillery is a significant turning point in the history of Dwarikesh Sugar since it has increased the distillery's daily capacity to 337.5 KL. It will cause the revenue stream to be revaluated. The output of sugar will be reduced if ethanol production is doubled.  

 Following the commissioning of this distillery, the company has taken a decisive step toward environmental protection and the National goal of 20% ethanol mixing by 2025.

With a total market capitalisation of Rs 2,152.29 crore, the company has been maintaining a healthy dividend payout of 25.20 per cent and declared a dividend of Rs 2 per share for FY22.  

The stock of Dwarikesh Sugar has been witnessing a spurt in volume since the last week.  

Meanwhile, the shares of this multibagger have surged 366.7 per cent in two years on the bourses.  Besides, the scrip ended 4.19 per cent higher on BSE today.  

Investors must keep an eye on this stock for wealth creation