Multibagger stock rallies over 400% in 3 years, Board declares 150% dividend

The company has said in a stock exchange filing that “We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ₹3 Per Equity Share of ₹2 each (150%) of the Company. The interim dividend shall be paid on December 6, 2022 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday , November 24, 2022 which is the Record Date fixed for the purpose.”

On a consolidated basis, the company declared net sales of ₹613.84 crore in Q2FY23 compared to ₹563.32 crore posted in Q2FY22, representing a YoY growth of 8.97%. The company declared a net profit of ₹67.43 crore in Q2FY23 compared to ₹61.92 crore posted in Q2FY22, representing a YoY growth of 8.90%. The company declared an EPS of ₹11.15 per share in the quarter ended September 2022 compared to ₹10.24 posted in the year-ago quarter.

The shares of Panama Petrochem Ltd closed on Friday at ₹354.00 apiece level, up by 6.72% from the previous close of ₹331.70. In its last trading session, the stock recorded a total volume of 629,684 shares compared to the 20-Day average volume of 118,055 shares. The stock has appreciated 71.89% during the past five years, and over the past three years, it has delivered a multibagger return of 441.86%. The stock has climbed 36.57% over the past year, and on a year-to-date basis, it has risen 37.64% so far in 2022. For the quarter ended September 2022 or Q2FY23, the company recorded a promoter shareholding of 70.37%, FIIs stake of 2.74%, and public stake of 26.89%.