Sugar stock in green after the company announced a 30% increase in net profit; Do you own it?

Shares of Triveni Engineering (NS:) & Industries Ltd. jumped 4% on Friday to an intraday high of ₹281.40 each from the previous close price of ₹264. .

As of 2:30 p.m., the stock was trading at ₹273.25 on BSE, up 3.23% from its previous close.

The company’s net profit rose 74% year-on-year to Rs 190.31 crore. Additionally, operating revenue increased by 53% to Rs 1,839 crore from Rs 1,195 crore in the previous year.

Triveni Engineering & Inds. is engaged in the manufacture of sugar, steam turbines, distilleries, co-generation projects and engineering activities. The company also sells FMCG products under the Shagun brand.

Having a quick look at the financial statements reported by the company, operating income fell from ₹1,695 crore in the third quarter to ₹1,839 crore in the fourth quarter. Similarly, the company’s net profit over the same period increased by 30% from ₹147 crore to ₹190 crore.

On a yearly comparison of metrics, revenue improved significantly from ₹4,716 crore in FY21-22 to ₹6,390 crore in FY22-23. PAT numbers increased within the mentioned timeframe from ₹424 crore to ₹1792 crore.

The board has recommended a final dividend of 325% of Rs 3.25 per share.

Over the past three years, the stock has jumped around 592.50% from ₹40.65 at current price levels.

According to the latest shareholding scheme data, the company’s promoters hold a 60.98% stake and the domestic institutional investors (DII) hold an 8.54% stake in the company for FY22-23 .

Written byOmkar C

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