Debt free stock declares Rs. 8.25 dividend, scrip gains 100% from 52-week-low
With a market valuation of ₹3,654.21 Cr, Vesuvius India Ltd. is a small cap company that operates in the industrial industry. The services offered by Vesuvius, a community of professionals, include design and engineering, products, and operations management. The Board of Directors of that firm has established a record date for the purpose of the recommended dividend for the fiscal year that ends on December 31, 2022.
Vesuvius India said today in a stock exchange filing that the Board of Directors has “Recommended dividend for the Financial year ended on December 31, 2022 of Rs. 8.25/- (Rupees Eight and Twenty Five Paise Only) per equity share of Rs. 10/- each. Fixed, Wednesday, April 26, 2023, as the Record Date, for the purpose of determining those members who will be entitled to receive dividend which shall be paid after the approval of the members at the ensuing Annual General Meeting.”
Vesuvius India also declared that it has appointed Mr Rohit Baheti as the chief financial officer of the company with effect from February 27, 2023. During Q3FY23, the company recorded a net income from operations ₹348.37 crore, down by 1.26% YoY from ₹352.82 Cr recorded in Q3FY22. During the quarter ended December 2022, the company said its net income reached ₹354.95 Cr compared to ₹358.92 Cr recorded in the quarter ended December 2021. The company said its net expenses reached ₹317.63 Cr in Q3FY23 compared to ₹310.39 Cr in the year-ago quarter. Vesuvius India said its net profit reached ₹27.64 crore in Q3FY23, down by 23.41% YoY from ₹36.09 Cr in Q3FY22. The EPS of Vesuvius India of ₹13.62 was reached in Q3FY23 compared to ₹17.78 recorded in Q3FY22.
The shares of Vesuvius India closed today on the NSE at ₹1,804.00, up by 3.07% from the previous close of ₹1,750.20. The stock recorded a total volume average of 44,360 shares compared to the 20-Day average of 15,373 shares. In the last 1 year the stock has gained 89.32% and on a YTD basis it has rallied 11.61% so far in 2023. In the last 6 months, the stock has gained 30.58% and in the last 1 month it has gained 13.48%. The stock touched a 52-week-high of ₹1,858.00 on (27-Feb-2023) and a 52-week-low of ₹900.00 on (07-Mar-2022), indicating that at the current market price, the stock is trading 2.90% below the 1 year high and 100.44% above the 1 year low. During Q3FY23, the company recorded a promoter shareholding of 55.57%, FIIs stake of 0.86%, DIIs stake of 23.21%, and a public holding of 20.37%. Vesuvius India holds a debt to equity ratio of zero marking it as a debt free company and it has a P/E ratio of 35.7, lower than its sector PE ratio of 48.9.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.