Home / Markets / Stock Markets /  Mid cap chemical stock rallies after healthy Q3 earnings and dividend of 200%

With a market valuation of 15,830.46 Cr, Clean Science and Technology Ltd. is a mid-size company that operates in the chemical industry. After reporting strong Q3 results and a 200% dividend, the stock concluded the trading day on a positive note on Friday.

The company has said in a stock exchange filing that the Board of Directors has “Declared Interim Dividend of Rs.2/- (200%) per Equity Share of the face value of Rs. 1/- each for the financial year 2022-23. As intimated vide our letter dated 23rd January, 2023, interim dividend shall be paid to the equity shareholders whose names appear in the Register of Member of the Company as on 10th February, 2023 being Record Date fixed for the purpose. The interim dividend will be paid on 23rd February, 2023."

In Q3FY23, the company's net revenue reached 237.4 Cr compared to 180.8 Cr in Q3FY22, representing a growth of 31%. The company its EBITDA stood at 108.4 Cr in the quarter ended December 2022 as against 76.1 Cr recorded in the quarter ended December 2021, representing a growth of 42%. Clean Science and Technology reported a profit before tax (PBT) of 111.8 Cr in Q3FY23 as compared to 77.6 Cr in the year-ago quarter, representing a growth of 44% whereas the company said its profit after tax (PAT) or net profit reached 83.9 Cr in Q3FY23 against 58.0 Cr recorded in Q3FY22, representing a growth of 45% YoY.

On Friday, the shares of Clean Science and Technology closed on the NSE at 1,484.00 apiece level, up by 0.14% from the previous close of 1,481.90. The stock recorded a total volume of 2,87,683 shares, compared to the 20-Day average volume of 58,229 shares. In the last 1 year, the stock has fallen 35.70% and on a YTD basis, it has fallen 0.44% so far in 2023. The stock touched a 52-week-high of 2,361.10 on (04-Feb-2022) and a 52-week-low of 1,330.00 on (30-Jan-2023). For the quarter ended December 2022 or Q3FY23, the company reported a promoter shareholding of 78.50%, FIIs stake of 3.99%, DIIs stake of 4.65% and public stake of 12.86%.

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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