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| India Glycols Limited (IGL) |
Buy at : Near by 1400
Stop Loss: 1350
Target : 1700
India Glycols Limited (IGL) has been in the spotlight recently due to several major developments:
Ethanol Supply Contracts: The company secured a significant ₹1,164 crore contract for supplying ethanol to various oil companies. This will involve supplying 16.55 crore litres of ethanol as part of India’s Ethanol Blended Petrol Programme (EBPP). This contract is set to run from November 2023 to October 2024, boosting India Glycols' revenue in the renewable energy sector
Recent Financial Performance: For the financial year 2023-2024, India Glycols showed robust financial growth. In the first quarter of FY2024, their net sales rose by over 40% year-on-year, amounting to ₹968.49 crore. Their profit after tax for FY 2024 also saw a notable increase of 21%, with a profit of ₹156.3 crore. The company's earnings per share (EPS) increased to ₹55.87, reflecting strong profitability
- Stock Performance: India Glycols' stock has been performing well, reflecting investor confidence in its growth trajectory. Over the past year, the stock has appreciated by 75%, driven by favorable market conditions and company announcements. The stock surged by over 13% following the ethanol contract news
In summary, India Glycols is riding a wave of success driven by strong earnings, strategic contracts, and its role in India's push towards ethanol-blended fuels.
Would you like more details on their financial ratios, investment opportunities, or perhaps insights into future prospects?
Potential follow-up questions:
- How does India Glycols’ performance compare to its industry peers?
- What are the key growth drivers for India Glycols in the coming years?
- Can you explain India’s Ethanol Blended Petrol Programme and its impact on companies like India Glycols?
Tip: When looking at a company’s stock, focus on both current performance and long-term indicators like ROCE (Return on Capital Employed) and debt levels to assess sustainability.
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