Shree Renuka Sugars Ltd Share Price – NSE  /  BSE

Sugar, Small Cap

Archean Chemical Industries Ltd, Oracle Financial Services Software Ltd, DCM Shriram Ltd, L&T Finance Ltd are among the other stocks to see a surge in volumes on NSE today, 13 June 2024.

Shree Renuka Sugars Ltd witnessed volume of 1787.88 lakh shares by 14:14 IST on NSE, a 16.17 times surge over two-week average daily volume of 110.56 lakh shares. The stock increased 11.62% to Rs.49.29. Volumes stood at 140.97 lakh shares in the last session.

Archean Chemical Industries Ltd notched up volume of 32.5 lakh shares by 14:14 IST on NSE, a 12.56 fold spurt over two-week average daily volume of 2.59 lakh shares. The stock rose 6.82% to Rs.664.50. Volumes stood at 2.12 lakh shares in the last session.

Oracle Financial Services Software Ltd saw volume of 17.11 lakh shares by 14:14 IST on NSE, a 6.79 fold spurt over two-week average daily volume of 2.52 lakh shares. The stock increased 9.52% to Rs.9,574.85. Volumes stood at 6.39 lakh shares in the last session.

DCM Shriram Ltd clocked volume of 3.53 lakh shares by 14:14 IST on NSE, a 6.33 times surge over two-week average daily volume of 55791 shares. The stock gained 5.61% to Rs.1,047.05. Volumes stood at 39128 shares in the last session.

L&T Finance Ltd clocked volume of 426.37 lakh shares by 14:14 IST on NSE, a 4.85 times surge over two-week average daily volume of 87.98 lakh shares. The stock gained 3.07% to Rs.175.85. Volumes stood at 130.51 lakh shares in the last session.

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However, revenue from operation increased 48.86% year on year (YoY) to Rs 3,466.3 crore in the fourth quarter of financial year 2024.

The firm reported pre-tax loss of Rs 44.1 crore in the March 2024 quarter as compared with profit before tax of Rs 50.4 crore posted in same quarter last year.

During the quarter, EBITDA declined 6% YoY to Rs 281.7 crore as against Rs 298.3 crore in corresponding quarter previous fiscal.

On segmental front, revenue from sugar-milling was at Rs 841.8 crore (down 26.03% YoY), revenue from sugar–refinery stood at Rs 2,621.1 crore (up 131.73% YoY), distillery revenue was at Rs 114.1 crore (down 64.79% YoY), revenue from co-generation was at Rs 207.3 crore (up 7.3% YoY), trading revenue was at Rs 139.7 crore (up 1026.61% YoY) and revenue from Engineering stood at Rs 40.7 crore (down 69.07%) during the period under review.

On full year basis, the company reported net loss of Rs 627.2 crore posted in FY24 as against with net loss of Rs 196.7 crore posted in FY23. Revenue from operations stood at Rs 11,319 crore, registering a growth of 25.48% YoY.

Atul Chaturvedi, executive chairman said, “The company has displayed strong momentum, anchored by the Refinery division’s strong performance driven by firm international sugar prices and high export volumes. The domestic business was impacted due to lower production & sales volumes on account of drought induced low cane availability and restrictive policies on Ethanol.

Our flagship consumer pack brand Madhur continued to grow. Further, higher net realization especially in domestic sugar and refinery businesses resulted in stable Q4 performance. Our consolidated total income has increased by 25% over the previous year. The company’s resilience is driven by its robust business model.”

Sunil Ranka, chief financial officer said, “Shree Renuka Sugars has delivered a stable financial performance driven by the strong topline and consolidated EBITDA growth of 5%. Though our company’s EBITDA is comparable amongst the peers, the interest cost has escalated due to the upward movement in the borrowing rates along with additional working capital requirements for our refinery division thereby resulting in higher interest burden and impacting the profitability of the company.

Shree Renuka Sugars is one of the leading sugar manufacturers in India with a track record of over 25 years. Its operations are integrated, encompassing crushing of cane, refining of raw sugar, ethanol production and power generation.

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Net loss of Shree Renuka Sugars reported to Rs 111.70 crore in the quarter ended March 2024 as against net profit of Rs 42.80 crore during the previous quarter ended March 2023. Sales rose 48.86% to Rs 3466.30 crore in the quarter ended March 2024 as against Rs 2328.50 crore during the previous quarter ended March 2023.

For the full year,net loss reported to Rs 627.20 crore in the year ended March 2024 as against net loss of Rs 197.00 crore during the previous year ended March 2023. Sales rose 25.48% to Rs 11319.00 crore in the year ended March 2024 as against Rs 9020.70 crore during the previous year ended March 2023.

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Shree Renuka Sugars will hold a meeting of the Board of Directors of the Company on 29 May 2024

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