Uttam Sugar Mills Ltd Stock Surges on Reporting Q4 Results!

On May 15, 2023, Uttam Sugar Mills reported a 14.64% rise in its net profit at Rs 70 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 61.06 crore for the same quarter in the previous year. The total income of the company increased by 6.43% at Rs 530.12 crore for Q4FY23 as compared to Rs 498.09 crore for the corresponding quarter of previous year.     

For the year ended March 31, 2023, the company has reported a 9.14% fall in its net profit at Rs 123.62 crore as compared to Rs 134.92 crore for the previous year. However, the total income of the company increased by 0.86% at Rs 2,067.68 crore for the year under review as compared to Rs 2,050.01 crore for the year ended March 31, 2022.  

Uttam Sugar Mills Ltd. is among the leading producer of double refined sugar in the country. With extensive Research and Development, Uttam Sugar is now producing the best quality sugar in the country. After entering into the packaged sugar market, the company has now moved from ‘Selling a commodity’ to ‘Marketing of a product’.   

Uttam Sugar Mills is currently trading at Rs 274.50, up by 2 points or 0.73% from its previous closing of Rs 272.50 on the BSE. The scrip opened at Rs 276.00 and has touched a high and low of Rs 279.95 and Rs 273, respectively. So far 3,582 shares were traded on the counter.   

The BSE group ‘B’ stock of face value of Rs 10 has touched a 52-week high of Rs 321.50 on January 11, 2023 and a 52-week low of Rs 209.00 on May 16, 2022. Last one week high and low of the scrip stood at Rs 283.45 and Rs 269.50, respectively. The current market cap of the company is Rs 1,047 crore.   

The promoters’ holding in the company stood at 72.85%, while Institutions and Non-Institutions hold 0.60% and 26.55% respectively.