Multibagger stock Shilchar Technologies declares 100% dividend, scrip up over 370% in 1 year

“Board Recommended Dividend of 100% (i.e. Rs. 10/- Per Share) on the Equity shares of Rs.10/- each to the Shareholders,” said Shilchar Technologies in a stock exchange filing.

Shilchar Technologies has announced a 40.00% equity dividend, or ₹4 per share, for the fiscal year ended March 2022 or FY22. This generates a dividend yield of 0.20% at the current share price of ₹1910.90. The company has a solid track record of dividend declarations during the past five years. According to statistics from Trendlyne, Shilchar Technologies Ltd. has declared 18 dividends since August 7, 2002. 

The company said its revenue from operations stood at Rs 94.99 Cr during Q4FY23, up by 44.30% YoY from ₹65.83 Cr during Q4FY22. During the quarter ended March 2023, the company’s net income reached ₹96.41 Cr, up by 43.91% YoY from ₹66.99 Cr recorded during the quarter ended March 2022. The company’s net profit stood at ₹16.27 Cr during the quarter under review, up by 117.51% YoY from ₹7.48 Cr in the year-ago quarter. 

On Friday, the shares of Shilchar Technologies closed on the BSE at ₹1910.90 apiece level, down by 0.37% from the previous close of ₹1918.05. The company has produced a multibagger return of 405% over the past five years, increasing from ₹383.15 to the current market price, and a multibagger return of 2,376.86% during the past three years, rising from ₹77.15 to the current market price. The stock rose from ₹466.20 to the current market price during the course of the past year, posting a multibagger return of 371.77%.  On a YTD basis, the stock has risen 95.13% so far in 2023. The scrip touched a 52-week-high of ₹1,968.00 on (28/04/2023) and a 52-week-low of ₹402.35 (29/04/2022).