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Business News/ Markets / Stock Markets/  Chemical stock announces 7 per share dividend, net sales jump 24% YoY in Q2
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Chemical stock announces ₹7 per share dividend, net sales jump 24% YoY in Q2

Oriental Carbon & Chemicals Ltd. is a small-cap company that operates in the chemical industry with a market valuation of Rs. 794.61 crore.

The shares of Oriental Carbon and Chemicals Ltd closed today at ₹801.00 apiece, up by 0.98% from the previous close of ₹793.20.Premium
The shares of Oriental Carbon and Chemicals Ltd closed today at 801.00 apiece, up by 0.98% from the previous close of 793.20.

Oriental Carbon & Chemicals Ltd. is a small-cap company that operates in the chemical industry with a market valuation of Rs. 794.61 crore. The company has more than 25 years of expertise in producing insoluble sulphur, and it is a well-known manufacturer in the world. The firm has released its Q2 financial results and announced an interim dividend of Rs. 7 per share through the board of directors.

The company has said in a stock exchange filing that its Board of Directors has “declared an interim dividend of Rs.7/- per equity share of face value of Re.10/- each for the financial year ending 31st March 2022 and fixed the Record date for the purpose of determining the entitlement of the shareholders for the interim dividend as 18th November 2022, and dividend will be paid to the shareholders on or from 28th November 2022."

In Q2FY23, the company reported net sales of 140.91 crore on a consolidated basis compared to Rs. 113.09 Cr in Q2FY22 and 152.90 Cr in Q1FY23, representing a YoY growth of 24.59% but a QoQ fall of 7.84%. The firm reported a net profit of Rs. 9.43 crore in the quarter ended September 2022, down 29.34% YoY from Rs. 13.34 crore in the same quarter last year and 14.96 Cr recorded in the quarter ended June 2022 representing a QoQ fall of 36.96%. Oriental Carbon EPS has decreased to Rs. 9.44 in Q2FY23 from Rs. 13.35 in Q2FY22 and 14.98 per share in Q1FY23.

On a standalone basis, the company reported net sales of 122.16 crore in Q2FY23 compared to Rs. 99.32 crore in Q2FY22 and 136.35 Cr in Q1FY23, representing a YoY growth of 22.99% and a QoQ fall of 10.40%. Net Profit was 7.77 crore in September 2022, down 38.49% YoY from 12.63 crore in September 2021, and 13.96 crore in the quarter ended June 2022, reflecting a QoQ decline of 44.34%. Oriental Carbon's earnings per share (EPS) dropped from Rs. 13.98 per share in Q1FY23 and Rs. 12.64 in Q2FY22 to Rs. 7.78 in Q2FY23.

The shares of Oriental Carbon and Chemicals Ltd closed today at 801.00 apiece, up by 0.98% from the previous close of 793.20. The stock recorded a total volume of 19,134 shares today compared to the 20-Day average volume of 7,810 shares. On a YTD basis, the stock has fallen 18.05% so far in 2022. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 51.76%, FIIs holding of 1.40%, DIIs holding of 14.14% and a public stake of 32.70%.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 09 Nov 2022, 07:22 PM IST
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