Shares of Gokul Agro Resources surged 19 per cent on the BSE in Wednesday’s intra-day trade to hit a new record high of Rs 317, amid heavy volumes in an otherwise a weak market.
In one month, the stock has zoomed 50 per cent and it has skyrocketed 196 per cent in the past six months. In comparison, the BSE Sensex was down 0.39 per cent at 81,611 at 02:24 PM.
The average trading volumes on the counter jumped over two-fold, while a combined nearly 6 million shares have changed hands on the NSE and BSE today.
Since August 2, 2024, the stock price of Gokul Agro has soared 71 per cent after the company reported a strong 120 per cent year-on-year (Y-o-Y) jump in its consolidated profit after tax (PAT) at Rs 52.88 crore in the June quarter (Q1FY25).
It had posted a PAT of Rs 24.04 crore in the year-ago quarter. Revenue from operations rose 74 per cent YoY to Rs 4,290 crore, from Rs 2,464 crore in Q1FY24.
Gokul Agro is engaged in various aspects of seed processing, solvent extraction, oil refining, vanaspati ghee, soybean oil, bakery shortening, castor oil, and castor derivatives. The company is one of the leading and fastest growing company engaged in the production, distribution and exports of various edible and non-edible oils, along with its derivatives and feed meals.
Gokul Agro owns subsidiaries in Singapore and is exploring opportunities in Indonesia for facilitating direct sourcing of raw materials from South East Asia.
During the financial year 2023-24, the company commenced commercial operations of edible oils at its Krishnapatnam refinery plant located in Andhra Pradesh.
Apart from that, the company has also commenced commercial operations at its Haldia plant located in Mednipur, West Bengal, during the year.
Gokul Agro, in its FY24 annual report, said that it has global operations that are managed through international trade and a subsidiary located in Singapore, apart from its extensive marketing and distribution network spanning over 20 Indian states that reachs a wide array of customers.
Moreover, the company’s industrial product line centers on the production and export of various grades of castor oil and its derivatives, boasting one of the largest production facilities in this segment.
Gokul Agro provides two prominent consumer brands, Vitalife and Mahek, offering a diverse array of refined cooking oils, such as soybean oil, groundnut oil, sunflower oil, mustard oil, cotton seed oil, palm oil and vanaspati ghee.
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