Multibagger stock: Sakuma Exports shares extend gains after Q4 results, stock up 25% in 2 days

Shares of Sakuma Exports Ltd surged about 8 per cent during the trading session on Friday after the smallcap counter reported a strong set of numbers in the quarter ended on March 31, 2024. The stock extended its gains for the second straight session, rising about 25 per cent in two sessions.
 

Sakuma Exports reported a 157 per cent rise in its consolidated net profit on a year-on-year (YoY) basis to Rs 26.01 crore in the March 2024 quarter. The company's bottomline came in at Rs 10.11 crore in the year ago period. On a sequential basis, the bottomline zoomed more than 300 per cent from Rs 6.45 crore in the December 2023 quarter.
 

Its revenue from operations came in at Rs 500.55 crore for the March 2023 quarter, falling about 50 per cent YoY from the same quarter a year ago, where it reported a revenue from operations of 1,005.24 quarter. Revenue in the December 2023 quarter stood at Rs 777.07 crore.
 

Following the quarterly results, shares of Sakuma Exports surged more than 7.65 per cent to 34.43 crore, hitting its new 52-week highs and commanding a total market capitalization of more than Rs 1,050 crore. The stock had settled at Rs 31.99 per cent on Monday, rising about 13 per cent for the day.
 

Shares of Sakuma Exports have zoomed 160 per cent in the last 11 months, from its 52-week low at Rs 13.15 hit on June 26, 2023. The stock has rallied about 125 per cent in the last six months, while it is up 80 per cent in the year 2024 so far.
 

For the entire financial year 2023-24, the company reported a net profit of Rs 39.98 crore with a total revenue from operations coming in at Rs 2,120.83 crore. Sakuma Exports board also recommended a final dividend of Rs 0.05 per shares, subject to approval from the shareholders of the company.
 

Sakuma Exports is a commodity player which is buyer, processor, marketer, exporter and importer of agricultural products such as sugar, edible oils, oil seeds, pulses, cotton and a number of specialty crops in India, the Middle East, South and South East Asia, Australia, Europe, and Africa.