This small cap agri-based company has rallied about 8% on June 15

This small cap agri-based company has rallied about 8% on June 15

by 5paisa Research Team Last Updated: 2022-06-15T16:16:06+05:30

The company has commissioned new hydrogen generating plant.

Sukhjit Starch and Chemicals Ltd, engaged in the manufacturing of starch and its derivatives, has been trending on Dalal Street as it has rallied by about 8% from its previous close of Rs 429.80. The scrip opened at Rs 459 and made a day’s high of Rs 480(+11.6%). At 3:00 pm on 15th June, the stock was trading at Rs 457.55 on the BSE.

The huge upside was witnessed on the back of the company commissioning new hydrogen generating plant from biogas produced from biomass or process effluent at its new manufacturing unit commissioned at Phagwara (Punjab). The Hydrogen produced will be captively consumed by the company, for the time being. It is what appears to be a first-of-its-kind project in India.  

Talking about its recent quarterly results, in Q4FY22, revenue grew by 50.98% YoY to Rs 353.02 crore from Rs 233.82 crore in Q4FY21. On a sequential basis, the top-line was up by 10.79%. PBIDT (Ex OI) was reported at Rs 49.29 crore, up by 105.29% as compared to the year-ago period and the corresponding margin was reported at 13.96%, expanding by 369 basis points YoY. PAT was reported at Rs 22.71 crore, up by 155.74% from Rs 8.88 crore in the same quarter of the previous fiscal year. The PAT margin stood at 6.43% in Q4FY22 expanding from 3.8% in Q4FY21. 

Sukhjit Starch & Chemicals Ltd is the only multilocational group in India as of now with a combined installed capacity of 15000 tons of corn grind per annum. The company has also diversified into the textile sector. The product range of the company includes a variety of starches, derivatives of starch and other by products. 

The stock has a 52-week high of Rs 617 and a 52-week low of Rs 218.05. 

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