Rs 9 to Rs 268: This liquor stock turned into a multibagger in three years; stuck in lower circuit today

Shares of Piccadily Agro Industries Ltd have turned into multibagger in the last three years. The whiskey maker’s stock, which closed at Rs 9.33 on October 19, 2020 was trading at Rs 267.90 in the current session, delivering 2771% returns during the period. An amount of Rs 1 lakh invested in Piccadily Agro Industries stock three years ago would have turned into Rs 28.71 lakh today. In comparison, Sensex has risen 61.36 per cent during the period. The stock touched its all-time high of Rs 328 on October 18 this year and fell to a 52-week low of Rs 38.70 on February 14, 2023.

At 2:26 pm today, Piccadily Agro Industries stock was stuck in the lower circuit of 5% at Rs 267.90 against the previous close of Rs 282 on BSE. Market cap of the firm fell at Rs 2527.35 crore. Total 0.49 lakh shares of the firm changed hands amounting to a turnover of Rs 1.30 crore on BSE. The stock has a beta of 0.7 in the last one year, indicating very low volatility.

In terms of technicals, the relative strength index (RSI) of Piccadily Agro Industries stands at 76.5, signaling the stock is trading in the overbought zone. Piccadily Agro Industries shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Financial Performance

Piccadily Agro Industries reported a 45 percent year-on-year increase in net profit to Rs 11 crore for the first quarter ended June 2023 against Rs 7.6 crore in the June 2022 quarter. Net profit rose 134 percent from Rs 3.6 crore from March 2023 quarter.

Consolidated revenue from operations jumped 24.32 percent to Rs 229 crore over last year and 14.9 percent over the March 2023 quarter.

On an annual basis, revenue zoomed 6.1% to Rs 609.4 crore in FY23 against Rs 574.3 crore in the previous fiscal. Net profit rose 15.24% to Rs 25.7 crore in FY23 against Rs 22.3 crore in FY22.

About Piccadily Agro Industries

Piccadily Agro Industries is engaged in the manufacturing of sugar and distillery products. The company's segments include sugar and distillery. The sugar segment includes products, such as sugar, molasses, power, and bagasse. The distillery segment includes products, such as liquor, malt, carbon dioxide gas and ethanol.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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