Multibagger sugar stock hits 52-week high on stellar Q2 earnings

Shares of sugar producer Dalmia Bharat Sugar and Industries Ltd hit their 52-week high today post Q2 earnings. Dalmia Bharat Sugar stock touched a fresh high of Rs 490.05 on BSE. Market capitalisation of the firm rose to Rs 3,837.74 crore. Total 0.25 lakh shares changed hands amounting to a turnover of Rs 1.19 crore. Shares of Dalmia Bharat Sugar and Industries have delivered multibagger returns of 248% and 416% in three years and five years, respectively.  

The sugar firm reported a four-fold rise in its consolidated net profit to Rs 55 crore for the September quarter against Rs 12 crore in the September 2022 quarter.  

Total income climbed 29% to Rs 787 crore in the September 2023 quarter against Rs 612 crore in the corresponding quarter of the previous fiscal.  

Operating profit margin in percentage terms doubled to 15% in the last quarter against 7% in the September 2022 quarter. EBITDA or operating profit zoomed 202% to Rs 121 crore in Q2 against Rs 40 crore in the September 2022 quarter. Earnings per share rose 369% to Rs 6.78 in the last quarter against Rs 1.45 in the September 2022 quarter.   

Dalmia Bharat Sugar and Industries stock has a one-year beta of 1.2, indicating very high volatility during the period.  

The stock hit a 52-week low of Rs 310.50 on March 28, 2023.  

In terms of technicals, the relative strength index (RSI) of Dalmia Bharat Sugar and Industries stands at 61.3, signaling it's trading neither in the overbought zone nor in the oversold zone. Dalmia Bharat Sugar and Industries shares stand higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.   

Dalmia Bharat Sugar and Industries is engaged in the manufacturing of sugar, generation of power, manufacturing of industrial alcohol and manufacturing of refractory products. The company operates through four segments. The Own Manufactured Sugar Segment includes manufacture and marketing of sugar. The Power Segment includes generation and sale of power. The segment is also used for its captive consumption. The Distillery Segment includes production and sale of ethanol, extra neutral alcohol and sanitiser. The others’ segment includes magnesite, travel and electronics activities of the company.  

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