The 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).

The company is in the process of commissioning a new CO2 plant. The new plant will have an Investment of Rs 3 crores and will be financed through borrowings from a bank. The rationale for the new plant is to convert waste molasses fermentation into liquefied carbon dioxide and dry ice. This process has several benefits, including environmental and economic benefits.

The stock gave multibagger returns of over 100 per cent in 2 years and a whopping 330 per cent in 3 years.

This week, the stock rallied around 10 per cent with massive volumes to touch its breakout level of trend reversal price pattern on weekly charts.

In just 2 years of span, the stock gave multibagger returns of Rs 272.48 per cent.  

The stock has a PE multiple of 9.11 whereas the sectoral PE multiple is 16.3 and an ROE of 26.53 per cent. 

The stock has increased by 88.85 per cent in 6 months, although the BSE Sensex has only increased by 19.43 per cent. The stock PE multiple is 2.15 whereas the industry PE multiple is 17.2. Investors should keep this stock on their watchlist. 

Today, the stock of this company was locked at 20 per cent at Rs 29.20.

The expansion plans of the distillery would increase the contribution of the segment to revenues going forward and moderate the seasonality associated with the sugar business, as distilleries operate for around 325 days a year.

The technical evidence indicates that the stock has the potential to relatively outperform the benchmark indices.