Riga Sugar Company is currently trading at Rs. 25.00, up by 0.50 points or 2.04% from its previous closing of Rs. 24.50 on the BSE.
The scrip opened at Rs. 24.55 and has touched a high and low of Rs. 25.00 and Rs. 24.55 respectively. So far 1458 shares were traded on the counter.
The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.75 on 01-Aug-2016 and a 52 week low of Rs. 12.60 on 22-Mar-2016.
Last one week high and low of the scrip stood at Rs. 26.00 and Rs. 24.15 respectively. The current market cap of the company is Rs. 32.48 crore.
The promoters holding in the company stood at 65.75%, while institutions and non-institutions held 0.02% and 34.23% respectively.
Credit rating agency, CARE has revised rating of Riga Sugar’s long-term bank facilities worth Rs 124.80 crore to ‘B+ (Stable)’ from ‘B’. The rating agency has reaffirmed ‘A4’ ratings to company’s short term bank facilities worth Rs 5 crore.
The revision in the rating is on account of improvement in financial performance witnessed by significant reduction in losses in FY16 (refers to the period Apr 01 to Mar 31) and 9MFY17 coupled with a positive outlook of the sugar industry. However, the rating is constrained by weak financial risk profile marked by high gearing ratios, working capital intensive nature of the business, susceptibility of sugar industry to the vagaries of nature, cyclicality associated with the sugar industry and the regulated outlook of the same.