- Davangere Sugar Company’s stock has surged by 700% over five years, making it a standout performer in the Indian market.
- Their recent Q3FY24 results revealed a remarkable 190% increase in total revenue and a staggering 478% surge in net profit.
- The company’s innovative projects, like the CO2 plant, along with their efficient operations and commitment to sustainability, are driving their success.
Davangere Sugar Company Ltd, a real winner in the Indian stock market lately. Their shares have been on fire, soaring by a whopping 700 percent over the past five years. And guess what? They’re making headlines again, thanks to some awesome news about their recent performance.
Last week, on Wednesday, Davangere Sugar Company Ltd shared its results for the third quarter of the financial year 2023-24. And they were impressive! Their total revenue shot up by a massive 190 percent, going from ₹26.92 crores in the previous quarter to ₹78.31 crores this time around. Not just that, their net profit skyrocketed by a staggering 478 percent, jumping from ₹0.97 crores to ₹5.61 crores.
The company’s board gave the green light for a cool project – they’re investing ₹3 crores to set up a CO2 plant. This plant will convert waste molasses fermentation into liquefied carbon dioxide and dry ice.
Their sugar plant can crush a whopping 6000 tons of cane per day! That’s huge! Plus, they’ve got these massive warehouses covering around 2,83,874 square feet, where they can store a whopping 6 lakh quintals of sugar. That’s some serious storage capacity right there, ensuring smooth operations in their supply chain.
When it comes to production, they’re no slouch either. Their sugar facility churns out 3,06,192 quintals, with an impressive recovery rate of 6.34 percent from crushed sugarcane. And get this – they’re not just about sugar. They’re into sustainable energy too! With a capacity of 65 KLPD, they produce 1,99,39,345 KL ethanol.
Let’s not forget about their power plant. Spread across 1,23,018 square feet, it’s a powerhouse, generating a whopping 24.45 MW per day. And they’ve been growing steadily too, with their output increasing from 4,39,82,700 KWH in FY20 to 6,22,17,400 KWH in FY23.