Todays multibagger: Do you own this edible oil company that surged 407 per cent in just one year?
The company is into manufacturing, processing, and trading edible oils, food & cattle feeds in India.
On Tuesday, the shares of Diligent Industries Ltd rallied and got locked in the 5 per cent upper circuit at Rs 10.35 per share on BSE. It has witnessed heavy selling as it slumped more than 34 per cent since the last month. Still, the stock soared 407 per cent in just one year while it was able to deliver 255 per cent returns to its shareholders over a period of six months.
The company has a market capitalisation of Rs 118.36 crore. Promoters held a 61.33 per cent stake while the non-institutional investors have a total stake of 38.67 per cent in the company as of March 31, 2022.
Considering the yearly performance, the net sales of Diligent Industries surged 42.77 per cent to Rs 101.65 crore as against Rs 71.20 crore during the previous year ended March 2021. However, the net profit also soared 185.21 per cent to Rs 1.37 crore as against Rs 0.48 crore during the previous year ended March 2021.
The company is into manufacturing, processing, and trading edible oils, food & cattle feeds in India. It also deals with agri-commodities like maize, paddy, rice, and soya, which give a competitive edge over its competitors in sourcing and reduced the cost of raw material procurement. It has completed the implementation of a greenfield multiple refinery-vegetable oil plants in its existing premises in order to meet environmental standards.
Keep a close eye on this scrip for the upcoming sessions.