This Small Cap Fertilisers Stock Gains Over 15% After Good Q1Fy23 Results

The stock of small cap fertilisers company stock Gujarat State Fertilisers has climbed a whopping over 15% intra-day to day’s high price of Rs. 164.65 per share. The shares last around 11:28 am traded at Rs. 162.85 per share on the NSE. The stock’s 52-week low and high price is Rs. 98.1 and Rs. 198.8 per share, respectively. Meanwhile, the markets have pared some of the day’s gains and Nifty is trading below 16,650 points.
The stellar gains in the scrip logged today are on the back of the company’s healthy performance in the first quarter of Fy23. The company’s net sales registered a rise of over 63% to Rs. 3018.15 crore for the June ended quarter.
Profit before tax during the period stood at Rs. 508.84 crore, considerably higher than Rs. 176.4 crore during the same period last year.
Expenses meanwhile on increasing inflation rose by close to 50% to Rs. 2541.01 crore during the period YoY.
Gujarat State Fertilizers & Chemicals Limited is engaged in the development of crop nutrition solutions. The Company operates through two business segments: Fertilizer Products and Industrial Products.