Uttam Sugar Mills Ltd. recently announced that it would upgrade its “Distillery Capacity (Ethanol)” at its Barkartpur plant from 150 kiloliters per day (KLPD) to 250 KLPD. The project, which will cost a total of Rs 56 crore and be funded by internal accruals and loans, is expected to be finished by December 2023.
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The project, which will cost a total of Rs 40 crore and be funded by internal accruals and loans, will also see the firm enhance its energy efficiency and raise its “Cane Crushing Capacity” from 23750 tonnes per day (TCD) to 26200 tonnes per day (TCD).
Uttam Sugar Mills Ltd. shares jumped 1.222% today from their previous closing price of Rs. 305.45 to Rs. 309.15 a share. On the BSE, volume for the company’s shares increased by more than 2.56 times.
The market capitalization of Uttam Sugar Mills Ltd is Rs 1,163.93 billion. The business makes sugar, industrial alcohol, and produces electricity. The sectors PE multiple is 16.3, while the stock’s PE multiple is 9.11, with a 26.53 percent ROE.
In H1FY23 compared to H1FY22, net sales climbed by 14.41%, and net profit was Rs. 27.56 crore, according to the financial statements. Net sales grew by 11.86% between FY21 and FY22. In FY21, the net profit barely exceeded Rs 59.76 crore, but in FY22, it soared by 125.77% to Rs 134.92 crore.
