Shares of this sugar company delivered over 350% returns in the last 2 years!

Shares of this sugar company delivered over 350% returns in the last 2 years!

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 1.4k Views
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An investment of Rs 1 lakh in the shares of this company two years ago would have turned to Rs 4.75 lakh today.

Shree Renuka Sugars Ltd, an S&P BSE 500 company, has delivered multibagger returns to its shareholders in the last two years. During this period, the company’s share price jumped from Rs 9.84 on 05 February 2021 to Rs 46.80 on 07 February 2023, an increase of 375% in the two-year holding period.

An investment of Rs 1 lakh in the shares of this company two years ago would have turned to Rs 4.75 lakh today.

About the company

Shree Renuka Sugars Limited ('SRSL' or 'the Company') is one of the largest sugar, green energy (ethanol and renewable power) producers and sugar refiner in India. The company manufactures fuel-grade ethanol that can be blended with petrol. The company also produces power from bagasse (a sugar cane by-product) for captive consumption and sale to the state grid in India and Brazil. As a leading agribusiness and bioenergy Company, it is present across the value chain with a strategic network of infrastructure. SRSL is a subsidiary of Wilmar Sugar Holdings Pte. Ltd., Singapore [part of Wilmar Group (Asia's leading agribusiness group)].

Quarterly performance highlights  

In the recent quarter Q2FY23, on a consolidated basis, the company’s net revenue increased by 54.68% YoY to Rs 2187.60 crore. However, owing to a steeper rise in the cost of materials consumed, the company incurred a net loss of Rs 141.60 crore.

In FY22, the company delivered a ROCE of 8.13%. The company is a constituent of Group A stocks and commands a market capitalization of Rs 9,929.40 crore.

Share price movements 

Today, the scrip opened at Rs 46.60 and touched a high and low of Rs 47 and Rs 46.35, respectively. So far 3,23,935 shares have been traded on the bourses.

At 11.30 am, the shares of Shree Renuka Sugars Ltd were trading at Rs 46.85, an increase of 0.11% from the previous day’s closing price of Rs 46.80 on BSE. The stock has a 52-week high & low of Rs 68.70 and Rs 30.35 respectively on BSE.

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