Up over 200 per cent in a year; this multibagger sugar stock is still in a sweet spot!

Around 3 pm on Monday, its shares surged more than 6.5 per cent to Rs 53.90 on NSE.

The year 2021-22 was an excellent year for the bulls. Several stocks below Rs 100 per share turned out to be multibaggers. Up over 200 per cent in a year, Shree Renuka Sugars Ltd is the multibagger sugar stock that is still in a sweet spot.   

Around 3 pm on Monday, its shares surged more than 6.5 per cent to Rs 53.90 on NSE. The scrip rallied 22 per cent over the last five trading sessions and more-than-doubled in less than six months.   

Considering the financial performance of the company, it has recorded net sales and other operating income of Rs 2,172.90 crore thereby, surging 64.56 per cent from Rs 1,320.40 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 292.20 crore in Q4FY22 as compared to an operating profit of Rs 257.50 crore in Q4FY21. Q4FY22 registered a net profit of Rs 158.80 crore in comparison with the net loss of Rs 44.90 crore in the same quarter of the previous year.  

Shree Renuka Sugars Ltd is India's largest sugar refiner and ethanol producer based in Mumbai (Maharashtra). It is an agribusiness and bioenergy corporation present across the sugar value chain. It produces sugar, ethanol, power, etc. Considering its commendable growth and bright future outlook, we suggest keeping a close eye on this scrip for the upcoming sessions.