Davangere Sugar Faces Volatility Amid Weak Fundamentals and Mixed Quarterly Results
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 trajectory, falling for four consecutive days and recording a total decline of 12.85% during this period. Despite this, it managed to outperform its sector by 1.46% today.Over the past year, Davangere Sugar has underperformed the broader market, with a staggering decline of 58.04%, compared to the Sensex's modest gain of 0.48%. The company's long-term fundamentals appear weak, reflected in a low Return on Capital Employed (ROCE) of 7.13% and a high Debt to EBITDA ratio of 5.05 times, indicating challenges in servicing its debt.
On a positive note, the company reported improved quarterly results in December 2024, with net sales growing by 29.1% to Rs. 73.18 crore and achieving its highest PBDIT at Rs. 18.21 crore. However, the overall technical indicators remain bearish, with the stock trading below its moving averages across various time frames.
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