An amount of Rs 1 lakh invested in the shares of Suryalata Spinning Mills three months ago would have turned into Rs 2.56 lakh today. 
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An amount of Rs 1 lakh invested in the shares of Suryalata Spinning Mills three months ago would have turned into Rs 2.56 lakh today. Multibagger stock Suryalata Spinning Mills has surged 157% from its 52-week low in over three months. The microcap stock, which hit a 52 week low of Rs 272.40 on December 23, 2022 surged to a high of Rs 700, on April 11 this year translating into 157% gains during the period.
An amount of Rs 1 lakh invested in the shares of Suryalata Spinning Mills three months ago would have turned into Rs 2.56 lakh today.
In the current trading session, the stock fell after six days of consecutive gain. The stock opened higher at Rs 697.90 today against the previous close of Rs 690.80 on BSE.
The stock has risen 68.15% in one year and gained 124% in 2023. Total 0.13 lakh shares of the firm changed hands amounting to a turnover of Rs 86.05 lakh on BSE. Market cap of the firm stood at Rs 293.08 crore on BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 68.2, signaling it's trading neither in overbought nor in oversold zone. Suryalata Spinning Mills shares have a beta of 0.4, indicating low volatility in a year. Suryalata Spinning Mills shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Interestingly, promoters of the firm have pledged 35.98% or 10.80 lakh shares in the firm at the end of December quarter.
Four promoters held 70.36 per cent stake in the firm and 3326 public shareholders owned 29.64 per cent for the quarter ended December 2022. Of these, 3120 public shareholders held 6.33 lakh shares or 14.85% stake with capital up to Rs 2 lakh. Only nine shareholders with 7.29% stake held capital above Rs 2 lakh for the quarter ended December 2022.
Financial Performance
The stellar rally in the Suryalata Spinning Mills stock does not reflect the financial performance of the firm. In the December quarter, the firm reported a profit of Rs 6.88 crore against Rs 10.70 crore in the corresponding quarter of previous fiscal.
Sales fell 3.29% to Rs 123.59 crore in the December quarter against Rs 127.80 crore in the December quarter of 2021.
Operating profit crashed 35.01% to Rs 12.81 crore for the quarter ended December against Rs 19.71 crore in the corresponding quarter of the previous fiscal.
On a quarter-on-quarter basis, the firm reported a 25.05% fall in profit from Rs 9.18 crore in the September 2022 quarter. Sales rose 6.68% from Rs 115.85 crore in Q2 of the last fiscal.
However, on an annual basis, net profit zoomed 154.40% to Rs 47.75 crore for the fiscal ended March 2022 against a profit of Rs 18.77 crore for the fiscal ended March 2021.
Sales climbed 73.70% to Rs 480.34 crore in the last fiscal against Rs 276.53 crore for the fiscal ended March 2021.
About the Company
Suryalata Spinning Mills Limited is an India-based company engaged in the manufacture of synthetic yarns. The company produces yarns, such as 100% Polyester (PSF) Yarns, 100% Viscose (VSF) Yarns, PSF and VSF Blended Yarns and Value-Added Yarns suitable for suitings, shirtings and knittings. It manufactures a product range of synthetic ring spun yarns for knitting, weaving and technical applications in the count range of English Number (Ne) 10s to Ne 60s in single, two-ply and multifold varieties.
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