498 per cent jump in net profit: This multibagger sugar company announces stellar quarterly results and expansion plan!

The stock gave multibagger returns of 210 per cent in 3 years and over 1,000 per cent in 1 decade.

Balrampur Chini Mills Limited (BCML), one of the largest integrated sugar companies in India, announces its Quarterly Results ended June 30, 2023. Details below:

Quarterly Results: The net sales increased by 28.66 per cent to Rs 1,389.62 crore, the operating profit increased by 197.64 per cent to Rs 175.38 crore and the net profit skyrocketed by 498 per cent to Rs 68.07 crore in Q1FY24 compared to Q1FY23.

Expansion Update: The company has embarked on the expansion of crushing capacity at one of its plants by 2000 TCD which will commence operations by November 2023. Currently, the company has 10 sugar factories located in Uttar Pradesh (India) having an aggregate sugarcane crushing capacity of 80,000 TCD (2,000 TCD expansion under implementation), distillery and co-generation operations of 1050 KLPD and 175.7 MW (saleable) respectively.

BCML is one of the most efficient integrated sugar producers in the country. The company has grown its capacity through well-planned capacity expansion projects and the acquisition of existing companies over recent years. The allied businesses of the company comprise distillery operations and cogeneration of power.

On Monday, shares of BCML plunged 2.34 per cent to Rs 403.20 per share from its previous closing of Rs 412.85 with an intraday high of Rs 422.65 and an intraday low of Rs 402. The shares of the company saw a spurt in volume by more than 2.60 times on BSE.

The stock gave multibagger returns of 210 per cent in 3 years and over 1,000 per cent in 1 decade. Investors should keep an eye on this sugar stock.
Disclaimer: The article is for informational purposes only and not investment advice.