10:1 Stock Split: Sugar Stock Under Rs 12 Jumps 7.37% On Ex-Split Day, Shares Rally 600%

Small cap company Davangere Sugar Company Ltd shares traded ex-split on May 31, 2024. Last trading price of Davangere Sugar Company share on BSE is Rs 10.64 per share with intraday gain of 7.37% as on May 31, 2024. Davangere Sugar Company share offered attractive returns over the years. In last 2-years, Davangere Sugar Company shares zoomed nearly 600%. The company has a market capitalisation of Rs 1001.06 crore. More details below:

Davangere Sugar Company Trades Ex-Split, Shares Become Cheaper: As per the regulatory filing of Davangere Sugar Company dated May 16, 2024, "the Company has fixed Friday, May 31, 2024 as the Record date for the purpose of sub-division of 1 Equity Share of nominal value of Rs. 10/- (Rupees Ten only) each fully paid up into 10 equity shares of Re 1/- (Rupee one only) each fully paid up, ranking pari-passu in all respects which was approved by the Equity Shareholders through an Extra Ordinary General Meeting held on May 15, 2024."

Davangere Sugar Company Share Performance: The 52-week high price of Davangere Sugar Company share on BSE is Rs 12.00 (as on 01/09/2023) and 52-week low price is Rs 6.00 per share (as on 07/06/2023). Davangere Sugar Company shares offered stunning returns of 21% year-to-date, soared 75% in last 1-year, and gave return of 671% in last 3-years.

Davangere Sugar Q4 Results: The company declared a fall of 46.91% in its net profit for the quarter ended March 2024 at Rs 4.55 crore as against Rs 8.57 crore announced in the corresponding quarter of last year. Sales of Davangere Sugar fell as well by 27.87% to Rs 63.57 crore for the quarter ended March 31, 2024 as compared to Rs 88.13 crore announced in the similar quarter of last year. For the entire year, the company's net profit slipped 7.41% to Rs 12.24 crore for the year ended March 2024 as compared to Rs 13.22 crore during the previous year ended March 2023. Sales slipped as well by 22.65% to Rs 216.53 crore in the year ended March 2024 as against Rs 279.94 crore during the previous year ended March 2023.

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