Gokaldas Exports plunges over 3% as Goldman Sachs buys majority stake

One of the sellers, Clear Wealth Consultancy, sold 6 million shares of the company. 390.91 per share. Clear Wealth Consulting Services LLP had 20.56 per cent promoter ownership in Gokaldas Exports in Q3FY23. Through another bulk deal, Ashoka India Equity Investment Trust bought a majority stake at an average price of 3,59,600 shares. 390.51 per share and Bonanza Commodity Brokers sold 5,06,448 shares at a price of Rs. Also bought 393.23 and 4,99,452 shares 391.66 per share in Gokaldas Exports.

During Q3FY23, the company registered a revenue of 528.1 cr, up 0.8% from 524.1 crore was recorded in Q3FY22. The company said that its EBITDA has reached 78.4 Cr in Q3FY23, up 24.8% YoY 62.8 crore in Q3FY22. The net profit of the company stood at 46.6 crore during the quarter ended December 2022, an increase of 34.8% 30.1 crore was recorded in the quarter ending December 2021.

“We view the long-term macroeconomic factors as very favorable for the business. Keeping this in mind, we are making good progress with our capex planning. Sivaramakrishnan Ganapathy, Vice Chairman and Managing Director, Gokaldas Exports said in Q3FY23, “This financial Our growth trajectory for the year remains intact, while we continue to build a strong foundation for strong growth in the years to come.”

Shares of Gokaldas Exports closed today on NSE Closes at 393.20, which is 3.53% lower than its previous close 407.60. The stock recorded a total volume of 1,07,53,251 shares as compared to 20-day average volume of 299,461 shares.