Sugar stock in green after company reports net profit increase of 30%; Do you own it?

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Sugar stock in green after company reports net profit increase of 30%; Do you own it?

Shares of Triveni Engineering (NS: TREI ) & Industries Ltd. surged 4% on Friday to reach an intraday high of ₹ 281.40 apiece from the previous close price of ₹ 264. The company’s recent release of strong Q4 FY 22-23 results caused the stock price to jump today.

At 14:30 am, the stock was trading at ₹273.25 on the BSE, up 3.23 percent from its previous close.

The company’s net profit increased by 74% year over year to Rs 190.31 crore. Additionally, revenue from operations increased by 53% to Rs 1,839 crore from Rs 1,195 crore the previous year.

Triveni Engineering & Inds. Ltd. is engaged in the business of manufacturing sugar, steam turbines, distilleries, Co-Geneartion projects, and engineering activities. The company also sells FMCG goods under the brand name Shagun.

Having a quick walkthrough of the financials reported by the company, the operating revenue increased from ₹1,695 crores in Q3 to ₹1,839 crores in Q4. Similarly, the net profits of the company during the same period, increased by 30 percent, from ₹147 crore to ₹ 190 crore.

On a YoY comparison of the metrics, the revenues significantly improved from ₹ 4,716 crores during FY 21-22 to ₹6,390 crores in FY 22-23. The PAT numbers have shifted upwards within the timeframe mentioned, from ₹ 424 crores to ₹1792 crores.

The board of directors has recommended a final dividend of 325 percent of Rs 3.25 per equity share.

In the past three years, the stock has jumped around 592.50 percent, ranging from ₹40.65 to the current price levels.

According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 60.98 percent stake, and domestic institutional investors (DIIs) hold an 8.54 percent stake in the company for FY 22-23.

Written by Omkar C

The post Sugar stock in green after company reports net profit increase of 30%; Do you own it? appeared first on Trade Brains.

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