Penny stock under Rs 20: This small-cap company commissions a machine project; reported a jump of 52 per cent in net revenue!
The stock is up by 10 per cent in 1 month and over 30 per cent in just 3 months.
Vishwaraj Sugar Industries Ltd (VSL) (BSE: 542852, NSE: VISHWARAJ), an integrated sugar products manufacturing company, has announced that it has commissioned a Bagasse Pelletizing Machine to convert loose bagasse into bagasse pellets. This will help the Company store the bagasse in lesser space, reduce wastage, and effectively use the bagasse in the boilers.
Earlier last month, the company reported earnings for the quarter and year ended March 31, 2023. According to the Quarterly Results, revenue from operations grew 52 per cent YoY to Rs 199 crore over Q4FY22. PAT came in at a negative Rs 46.05 crore (Q4FY23) (Loss YoY) adjusting for deferred tax.
According to the annual results, revenue from operations grew 32 per cent YoY to Rs 616 crore over FY22. PAT came in at a negative Rs 23.44 crore (Loss YoY) adjusting for deferred tax. Earlier, in February 2023, the board had considered and approved a draft letter of offer for the proposed rights issue, with an issue size of up to Rs 125 crore.
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Vishwaraj Sugar Industries Ltd is engaged in the production of sugar and alcoholic spirits by distillation, including ethanol, vinegar, and the generation of power. The company has a market cap of Rs 368 crore.
On Wednesday, shares of Vishwaraj Sugar Industries zoomed 0.70 per cent to Rs 19.92 per share from its previous closing of Rs 19.78. The stock has a 52-week high of Rs 21.35 and a 52-week low of Rs 13.13.
The stock is up by 10 per cent in 1 month and over 30 per cent in just 3 months. Investors should keep an eye on this small-cap stock.