This small cap FMCG surge by 18 per cent after declaring a 40 per cent increase in PAT for Q1FY24!

Today it hit a fresh 52 week high and in the last 5 days the stock has grown its value by 34 per cent.

Analysts foresee a promising outlook for the Fast Moving Consumer Goods (FMCG) sector in the first quarter of FY24, anticipating a rebound in volume growth and a favorable demand environment. Today BSE FMCG Index was down by 1.74 per cent but Dodla Dairy Ltd was against the index and hit fresh 52 week high at Rs 908.40 showing 18.52 per cent surge in price. Amid the results and predictions in last 5 days stock has grew its value by 33.81 per cent.

Dodla Dairy Ltd is an integrated dairy company based in Telangana. The company derives the majority of its revenue from the sale of milk and dairy-based value added products in the branded consumer market. Currently its procurement is centered in 5 states and its products are available for purchase in 11 states.

For Q1FY24 in comparison to the same quarter last year, the company net profit for the first quarter which ended on June 30, 2023 increased by 40.23 per cent to Rs 34.97 crore from Rs 24.92 crore. In Q1FY24, the company total net revenue increased by 15.14 per cent from Rs 721.40 crore to Rs 830.65 crore in a similar quarter the year prior.       

Sequentially the company's net profit for the quarter which ended on June 30, 2023, increased by 55.21 per cent from Rs 22.53 crore. In Q1FY24, the company's total net revenue increased by 13.70 per cent from Rs 730.59 crore in the similar quarter the year prior. 

In last trading session the script was closed at Rs 76.45, and today they opened at Rs 779.95. It was closed at Rs 838.15, up by 9.35 per cent. The company has a market capitalization of around Rs 4,980 crore. Over the past one year company has given around 71 per cent return. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.