Mukesh Ambani, Asia’s richest man with a net worth of USD 120.3 billion, heads Reliance Industries, a conglomerate with a market cap of Rs 2105000 crore. The Reliance Group has numerous subsidiaries, one of them being Reliance Consumer Products, which owns the popular brand, Lotus Chocolate. The shares of Lotus Chocolate have been on a remarkable run, hitting an upper circuit for the past two trading sessions, with a daily surge of approximately 5%. This phenomenal growth has propelled the stock to its all-time high of Rs 772.50.
What’s driving this explosive growth? The surge in Lotus Chocolate’s share price is directly linked to its stellar quarterly results. The company reported a significant jump in its Q1 profit after tax (PAT), registering a net profit of Rs 9.41 crore for the quarter ending June 2024, a substantial increase from around Rs 20 lakh in the same period last year. This impressive profit surge is accompanied by robust revenue growth, which climbed from Rs 32.21 crore to Rs 141.31 crore.
This remarkable performance translates into a phenomenal return on investment for shareholders. An investment of just Rs 1 lakh in Lotus Chocolate five years ago would be worth a staggering Rs 51 lakh today, representing a 5000% return on every share. The stock, which traded at a mere Rs 15 on July 19, 2019, has now reached Rs 772.50, demonstrating its remarkable journey. Its 52-week low is Rs 213, highlighting the substantial upside potential the stock has witnessed.
