Jayant Agro hits a new high
By
Research Desk
about 9 years ago
Jayant Agro hit a new 52-week high today at Rs.326.90; though it has come off this high, its remains firmly in the green, up almost 17% at Rs.318.
The market is happy with the company’s performance for Q1FY17 wherein on a 10% (YoY) jump in net sales at Rs.382 crore, it posted an almost 3 times jump in net profit at Rs.11 crore. Expenses as a percentage of total income was lower at 93% v/s 96%.
Its main income comes from castor oil derivatives which had a 11% EBIT margin in current Q1, doubling up from 7% in previous Q1.
India is the biggest source of castor oil to the world market. As the prices remained lower during the period, demand has increased and as a result exports have gone up.