On April 26, Dhampur Bio Organics surged around 13% in the early trade, a day after the company displayed strong earnings for Q4FY22-23.
The company’s net profit jumped 13.02% YoY to Rs 80.20 crore from Rs 70.96 crore in the year-ago period. The bottom-line growth was aided by a sharp rise in revenue, growing around 70% YoY to Rs 2665.86 crore in the March quarter.
At 10.53 am, Dhampur Bio Organics shares were quoting at Rs 171.50 on the National Stock Exchange, gaining 7.59% from the previous close. The company’s five lakh shares changed hands on the stock exchanges against the one-month daily traded average of one lakh shares.
The company decides to take the sugar capacity at its Meerganj unit in Uttar Pradesh to 9,000 tons of cane per day (TCD) from the current 5,000 TCD.
Dhampur Bio Organics said in an exchange filing that the capacity expansion would cost Rs 64.03 crore, operating from the next sugar season, 2023-24.
The company also said the expansion would improve revenue, thereby making overall operations more profitable.