Stock Under Rs 100: Multibagger’s Shares Hit 10 Per Cent Upper Circuit on UP Board Expansion Approval
Following the announcement, the company’s shares surged, hitting the upper circuit with a 10 per cent gain to Rs 68.00.
SBEC Sugars Ltd., a sugar manufacturing company has announced that it has received the Consent to Establish (CTE) from the Uttar Pradesh Pollution Control Board (UPPCB) for the expansion of its plant capacity to 10,000 TCD (tons of cane per day). Following this announcement, the company’s shares surged, hitting the upper circuit with a 10 per cent gain to Rs 68.00.
This consent has been granted under the provisions of the Water (Prevention and Control of Pollution) Act, 1974, as amended, and the Air (Prevention and Control of Pollution) Act, 1981, as amended. This expansion marks a significant milestone for SBEC Sugars, aligning with regulatory requirements and demonstrating the company’s commitment to sustainable growth.
Q2 FY25 Performance
The company had posted a consolidated net loss of Rs 30.32 crore in Q2 FY25 compared to a net loss of Rs 20.21 crore during the same period in previous fiscal. Revenue of the company grew by 1.85 per cent year-on-year (YoY) to Rs 137.12 crore from Q2 FY24.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
About the Company
SBEC Sugars Ltd., incorporated in 1998, specializes in sugar production and is promoted by the Modi Group and SBEC Systems Ltd., UK. The company operates a manufacturing facility in Malakpur village, located in the Baghpat district of Uttar Pradesh. The promoter group is renowned globally for its expertise in project design, engineering, and consultancy.
Stock Price Performance:
SBEC sugar’s shares are up 92.1 per cent from its 52-week low of Rs 35.40. Company has a market capitalization of 324.05 crore. In the past 5 years, the stock has delivered multibagger returns of over 870 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.