Around 3 p.m. Monday, its shares jumped more than 6.5% to Rs 53.90 on NSE.
2021-22 has been a great year for bulls. Several stocks below Rs 100 per share turned out to be multibaggers. Up over 200% year on year, Shree Renuka Sugars Ltd is the multibagger sugar stock that is still in a sweet spot.
Around 3 p.m. Monday, its shares jumped more than 6.5% to Rs 53.90 on NSE. The scrip is up 22% in the last five trading sessions and has more than doubled in less than six months.
Considering the company’s financial performance, it recorded net sales and other operating income of Rs 2,172.90 crore, up 64.56% from the Rs 1,320.40 crore recorded in Q4FY21 . On the other hand, operating profit was recorded at Rs 292.20 crore in Q4FY22 compared to an operating profit of Rs 257.50 crore in Q4FY21. The Q4FY22 recorded a net profit of Rs 158.80 crore compared to 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 agrifood and bioenergy company present across the entire sugar value chain. It produces sugar, ethanol, electricity, etc. Given its commendable growth and bright future prospects, we suggest you keep a close eye on this certificate for future sessions.