‘Bulldozer’ Liquor Maker from Uttar Pradesh Rises 80% in 1-week
UP Excise Department inspects liquor shop in Jaunpur Image credit X.com @upexcise
Uttar Pradesh Based Liquor Maker’s Stock Rises Sharply
By S Jha
New Delhi, November 22: Midcap and smallcap stocks have seen massive erosion in their valuations amid the stock market meltdown in the last three months. Yet, a Uttar Pradesh-based liquor maker has awed investors by rising as much as 80 per cent this week.
The liquor company with diversified interests set up a plant for Indian Made Liquor in Hardoi in 2020. The plant capacity was four million cases annually.
The company further set up another greenfield project in 2022 for a distillery unit. It also has an exclusive partnership with Diageo for manufacturing the foreign made liquor in Uttar Pradesh.
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On November 7, the stock of the liquor company was trading at ₹65 per share. By November 13, it made incremental gains to climb to the level of ₹70 a share. From there, the scrip just blasted off the roof.
Shri Gang Industries and Allied Products Limited is listed on BSE. The face value of the shares of Shri Gang Industries and Allied Products Limited is ₹10. It was previously known as Suraj Vanaspati.
Shri Gang Industries and Allied Products Limited counts on Uttar Pradesh made Liquor (UPML) brands such as ‘Golden Cascade’ and ‘Bulldozer’. The company is also in the business of selling edible oils and other cooking vegetable products.
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On November 13, the shares of Shri Gang Industries and Allied Products Limited were trading around ₹70. But the shares got massive kick to spike to ₹129 within a span of five days.
On June 13 this year, the shares of Shri Gang Industries and Allied Products Limited has the bottom in recent months by touching the level of ₹58. On September 2 in 2022, the shares of Shri Gang Industries and Allied Products Limited has seen the peak of ₹242.
From the peak of September 2022, the shares of Shri Gang Industries and Allied Products Limited had gone in a steep fall as it touched the level of ₹52 in the month of May in 2023. Shares of Shri Gang Industries and Allied Products Limited spent the next 18 months in a prolonged consolidation.
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The shares of Shri Gang Industries and Allied Products Limited are trading at PE valuation of little over 10. In the September quarter, Shri Gang Industries and Allied Products Limited reported net sales of ₹97 crores. The operating profit was ₹23 crores in the September quarter against ₹7 crores in the June quarter.
Earning Per Share (EPS) sharply rose to ₹10.05 in the September quarter against ₹1.31 in June. Promoters’ holding in the company is 36 per cent.
Disclaimer: This article makes no recommendation for buy or sell of shares of any company. Stock market investment requires high degree of discipline, patience, and knowledge.
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