Dhampur Bio Organics zooms 13% on strong Q4 earnings

Dhampur Bio Organics surged around 13 percent in the early trade on April 26, a day after the company posted a robust set of earnings for the fourth quarter of the financial year 2022-23.

The company’s net profit jumped 13.02 percent on year to Rs 80.20 crore from Rs 70.96 crore in the year-ago period. Growth in the bottomline was aided by a sharp rise in revenue, which grew around 70 percent year-on-year to Rs 2665.86 crore in the March quarter.

At 10.53 am, shares of Dhampur Bio Organics were trading at Rs 171.50 on the National Stock Exchange, with gains of 7.59 percent from the previous close.

Five lakh shares of the company changed hands on the exchanges, as against the one-month daily traded average of one lakh shares.

The company plans to take the sugar capacity at its Meerganj unit in Uttar Pradesh to 9,000 tons of cane per day (TCD) from the present 5,000 TCD.

“The capacity expansion will cost Rs 64.03 crore and will be in operation from next sugar season 2023-24,” Dhampur Bio Organics said in an exchange filing.

The company also said the expansion would result in enhanced revenue, thereby making overall operations more profitable.

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