Davangere Sugar Faces Financial Struggles Amid Sales Growth and High Debt Concerns
Davangere Sugar Company, a microcap player in the sugar industry, has experienced significant volatility, hitting a new 52-week low of Rs. 4.25 today. The stock has been on a downward trend, losing 12.85% over the past four days and underperforming the broader market, with a one-year performance decline of 58.04% compared to the Sensex's modest gain of 0.48%.Despite today's performance, where it outperformed its sector by 1.46%, Davangere Sugar is trading below all key moving averages, indicating a bearish technical outlook. The company's long-term fundamentals show weakness, with a Return on Capital Employed (ROCE) of just 7.13% and a high Debt to EBITDA ratio of 5.05 times, raising concerns about its ability to service debt.
On a positive note, the company reported a 29.1% growth in net sales for the latest quarter, reaching Rs. 73.18 crore, and achieved its highest PBDIT at Rs. 18.21 crore. However, the overall financial health remains a concern, as profits have declined by 16.6% over the past year.
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