Ambar Protein Industries’ stock kept moving higher as of Friday when it was locked at Rs730 on the BSE as it hit the upper circuit of 5%. The stock has hit the 5% upper circuit market for 58th day in a row.
The edible oil company’s stock has increased by around 1,500% during the last three months from a low of Rs 45, which it reached on June 23, 2022. In contrast, the S&P BSE Sensex has increased by 12% over the same time period.
On December 31, 1992, Ambar Protein Industries was established with the purpose of producing ‘D’ Oil Cakes and edible/non-edible oils oil cakes. The firm now engages in trading and the refining of cottonseed oil. It also buys and packages refined cottonseed, groundnut, sunflower, maize, and soybean oils for resale.
Ambar Proteins is traded at the moment in the ‘XT’ category. All equities paid on a trade-by-trade basis and exclusively listed on the BSE are included in XT. These businesses have low to moderate market capitalization, contribute less to total trading volume, and demand comparatively more attention.
As of June 30, 2022, Ambar Protein has a modest equity base of 5.75 million total shares outstanding. Data on ownership patterns reveals that the promoters possess a stake of 74.97%, with individual shareholders owning a stake of 24.42% and others holding a stake of 0.61 % of the total.
Ambar Protein processed 21,239.96 MT of cotton seed oil at its refinery for the fiscal year 2021—2022 (FY22) (Previous Year: 27,457.91 MT). Additionally, the business had bought and packaged 2,134.92 MT of refined groundnut oil, refined sunflower oil, refined maize oil, refined mustard oil, and refined soybean oil for resale.
In its FY22 Annual Report, Ambar Protein predicted that the long-term outlook for edible oil demand in India is favorable due to the expectation of increasing population and increase in per capita consumption, which in turn would be driven by changing lifestyles, growing urbanization, increasing proportion of the middle-class population, and steadily rising affluence levels.
The article continued, “The near-term forecast for the edible oil industry is likely to remain stable on consistent domestic demand for edible oil and increase in operating margin due to increasing refining operation.”
Furthermore, Ambar Proteins stated that due to cotton prices being judged to be much higher and better than the Government Minimum Support Price, cotton growth is anticipated to increase significantly in the upcoming season. Additionally, the business stated that all millets and chilli growers would only plant cotton because they had suffered significant losses as a result of the abrupt decline in all product prices during the harvesting season.
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