To close higher, shares of Vishwaraj Sugar, a main participant in the distilleries, have risen in tandem with broad market buying. Although the stock has been flat this year, the company’s top-line results have been strong.
It reported a 52 percent increase in operating revenue for the fourth quarter. It was 199 crore rupees compared to 130 crore rupees in the same quarter of the previous fiscal year. The revenue for the third quarter of fiscal year 23 was Rs 101 crore.
The total revenue for fiscal year 23 grew by 32% to Rs 616 crore. The company’s profit before taxes was Rs 2.94 crore in the fourth quarter and Rs 25.54 crore for the entire fiscal year, according to a filing with the stock exchange.
Revenue from operations rose 52% in the fourth quarter and 32% to Rs 616 crore in FY23.
The total revenue for the period ending March 31, 2022 was reported to be Rs 199.8 crore, compared to Rs 131.2 crore for the previous period.
Its executive director, Mukesh Kumar, stated in a statement that VSL has once again achieved significant revenue growth and a robust top-line performance. This is due to a robust product portfolio and distribution methods.
However, profit after tax for the quarter was negative at Rs 46 crore. The corporation attributed the majority of the loss to deferred tax adjustments.
Incorporated in 1995, Vishwaraj Sugar is an integrated manufacturer of sugar and other allied products. The enterprise in Karnataka has an integrated sugarcane-based unit.
It is capable of processing 11,000 tons of sugarcane per day. In addition to sugar, the company also produces Rectified Spirits, Extra-Neutral Spirits, Natural Alcohol Vinegar, Compost, and Carbon dioxide (CO2), among other products.
As part of its expansion strategy, the company announced last year that it would invest Rs 250 crore to establish a greenfield ethanol production facility in Karnataka.