This penny stock reported 136 per cent profit growth, planning to expanding maize trading business catering ethanol needs; expecting Rs 500 crore turnover!
This small-cap stock is trading at Rs 26.5 with a market capitalization of Rs 622 crores.
Sakuma Exports Ltd announced its Quarterly Results on February 13, 2024.
In December 2022, Sakuma Exports Ltd. recorded sales of Rs 810.93 crore, which dropped to Rs 361.57 crore by September 2023. However, there was a significant rebound in sales by December 2023, reaching Rs 779.07 crore. Despite this improvement, there was a slight year-on-year decrease of 3.93 per cent. On a quarter-on-quarter basis, sales surged by a remarkable 115.47 per cent.
Regarding net profit, the company earned Rs 7.09 crore in December 2022, which decreased to Rs 2.73 crore by September 2023. But by December 2023, net profit increased to Rs 6.45 crore. The quarter-on-quarter growth soared impressively by 136.26 per cent, indicating a significant improvement in profitability within a short period.
In earnings per share (EPS), it was Rs 0.3 in December 2022, dropped to Rs 0.12 by September 2023, and then increased to Rs 0.27 by December 2023.
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Sakuma Exports Ltd. announced a strategic development of its company with the purchase and trade of maize. The business intends to directly buy maize from farmers in Eastern India beginning with the next April–May 2024 procurement season, with an investment of up to Rs 50 Crore. This action is a component of Sakuma's larger plan to expand its agricultural business and reach new markets. The company is particularly interested in serving the needs of the ethanol production industry and promoting sustainable development.
The company's ambitious expansion ambitions and confidence in the venture's success are evident in its expectation of a considerable commercial turnover of around Rs 500 crores in the forthcoming season.
This Small-Cap stock is trading at Rs 26.5 with a market capitalization of Rs 622 crores. It is an almost debt-free company with a D/E proportion of 0.03.
About Company
Sakuma Exports Ltd. is engaged in Buying, Processing, Marketing, Exporting bulk agricultural commodities like Sugar, Edible Oils, Oil Seeds, Pulses, Cotton, etc. It also offers innovative financial structured products linked to physical commodities.
Disclaimer: The article is for informational purposes only and not investment advice.