Stock with high promoter stake to pay 100% dividend soon, scrip is up 32% from 52-week-low
With a market worth of Rs. 1,523.28 Cr., Huhtamaki India is a small-cap company that works in the capital goods industry. Huhtamaki India Ltd., a prominent producer of primary consumer packaging and decorative labelling solutions in India, is a subsidiary of Huhtamaki Oyj, a major global player in the food packaging industry with headquarters in Finland.
Huhtamaki India said in a stock exchange filing that the Board of Directors has “recommended payment of dividend @ Rs. 2/- (Rupees Two only) per Equity share of face value of Rs. 2/- each (100%), for the financial year ended 31st December 2022 subject to the approval of the shareholders at the ensuing 73 Annual General Meeting. Register of Members and Share Transfer Books shall remain closed from Friday, 21st April 2023 to Tuesday, 4th May 2023 (both days inclusive) for the purpose of payment of Dividend for the Financial Year ended 31st December 2022.”
Huhtamaki India Ltd. has issued 23 dividends since May 31, 2001, according to statistics from Trendlyne. Huhtamaki India Ltd. announced an equity dividend of ₹1.00 per share over the past 12 months. This generates a dividend yield of 0.50% at the stock’s current price of ₹202.30.
The company declared a net income of ₹527.23 Cr during the quarter ended December 2022 compared to ₹531.03 Cr recorded during the quarter ended December 2021. The company’s net expenses stood at ₹491.14 Cr during Q3FY23 compared to ₹486.13 Cr recorded during the quarter ended Q3FY22 and its EBIT reached ₹36.09 Cr compared to ₹44.90 Cr recorded during the same quarter of FY22. The company said its net profit stood at ₹15.25 Cr during Q3FY23 compared to ₹20.56 Cr recorded during Q3FY22 and its EPS reached ₹2.10 during Q3FY23 as against ₹2.83 during Q3FY22.
On Friday, the shares of Huhtamaki India closed on the NSE at ₹202.30 apiece level, down by 0.61% from the previous close of ₹203.55. The stock touched a 52-week-high of ₹236.90 on (07-Oct-2022) and a 52-week-low of ₹152.40 on (20-Jun-2022). During Q3FY23, the company recorded a promoter shareholding of 67.73%, FIIs stake of 1.03%, DIIs stake of 0.50%, and a public stake of 30.72%. The promoter stake of Huhtamaki India at the current level is much higher than its peers such as EPL Ltd, Polyplex Corporation, Uflex, AGI Greenpac, and Cosmo First.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.