Multibagger Update: Gujarat Ambuja Exports Ltd surges over 11 per cent; heres why!
The shares of Gujarat Ambuja Exports Ltd have surged nearly 114 per cent in the last six months. Considering on a year-to-date basis, the stock has jumped 102 per cent.
Today, the shares of Gujarat Ambuja Exports Ltd (GAEL) surged 11.45 per cent to Rs 336.80 per share on NSE as the company announced its financial results.
The company informed that it has recorded net sales and other operating income of Rs 1,255.49 crore thereby, declining 25.11 per cent from Rs 1,676.54 crore, registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 233.85 crore in Q4FY22 as compared to an operating profit of Rs 190.90 crore in Q4FY21. Q4FY22 registered a net profit of Rs 153.31 crore in comparison with the net profit of Rs 118.42 crore in the same quarter of the previous year, surging 29.46 per cent.
Considering the yearly performance, the operating profit of Gujarat Ambuja Exports Ltd was recorded at Rs 741.18 crore in Q4FY22 as compared to an operating profit of Rs 561.42 crore in Q4FY21. The net profit soared 40.63 per cent to Rs 475.44 crore as against Rs 338.07 crore during the previous year, ending March 2021.
Gujarat Ambuja Exports is engaged in the manufacturing of corn starch derivatives, soya derivatives, feed ingredients, cotton yarn, and edible oils. Since its incorporation in 1991, GAEL strives to serve food, pharmaceutical, feed, and other industries with a long-term growth strategy in the Agro-processing sector.
Considering its commendable growth and bright future outlook, we suggest keeping a close eye on this scrip for the upcoming sessions.