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Business News/ Markets / Stock Markets/  Multibagger chemical stock announces dividend after rallying 260% in 3 years
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Multibagger chemical stock announces dividend after rallying 260% in 3 years

With a market capitalization of ₹1,496.31 crore, Bhagiradha Chemicals & Industries Ltd. is a small-cap company that engages in the agrochemical industry.

The shares of Bhagiradha Chemicals & Industries Ltd closed today at ₹1,444.00 apiece, up by 3.09% from the previous close of ₹1,400.70. (REUTERS)Premium
The shares of Bhagiradha Chemicals & Industries Ltd closed today at 1,444.00 apiece, up by 3.09% from the previous close of 1,400.70. (REUTERS)

With a market capitalization of 1,496.31 crore, Bhagiradha Chemicals & Industries Ltd. is a small-cap company that engages in the agrochemical industry. The organisation, which has its headquarters in Hyderabad, India, is focused on producing pesticides. It can manufacture a variety of technical-grade fungicides, herbicides, and insecticides with an annual capacity of 3250 Tonnes. The company has a sizable export market to more than a dozen nations, including the United States, Brazil, the United Kingdom, Portugal, Australia, South Africa, China, Germany, Malaysia, and Belgium.

The company has said in a stock exchange filing that “We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. November 04, 2022, declared 1st Interim Dividend of Re. 1.00/- per equity share (10%) on the fully paid up equity shares of the face value of Rs. 10/- per share for the financial year 2022-23. The record date for the purpose of determining the entitlement of shareholders for the 1st Interim Dividend for FY 2022-23 has been fixed as Thursday, November 17, 2022 and said dividend shall be paid within 30 days from the date of declaration."

In Q2FY23, the company reported a total income of 132.17 Cr compared to 99.53 Cr in Q2FY22, representing a YoY growth of 32.79%. The company reported a net expense of 114.86 Cr in the quarter that ended September 2022 compared to 88.02 Cr in the same quarter last year, representing a YoY growth of 30.49%. The company reported a net profit of 12.20 Cr in Q2FY23, compared to 8.34 Cr in Q2FY22, and 11.90 Cr in Q1FY23, representing a YoY growth of 46.28% and a QoQ growth of 2.52%. The company's EPS reached 11.69 in Q2FY23, compared to 12.52 Cr in Q1FY23 and 10.05 in Q2FY22.

The shares of Bhagiradha Chemicals & Industries Ltd closed today at 1,444.00 apiece, up by 3.09% from the previous close of 1,400.70. In the last 5 years, the stock has generated a multibagger return of 109.17% and in the last 3 years, the stock has generated a multibagger return of 262.69%. In the last 1 year, the stock has gained 98.42% and on a YTD basis, the stock has gained 67.65% so far in 2022. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 24.44%, FIIs holding of 0.20% and public holding of 75.35%.

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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: 04 Nov 2022, 05:03 PM IST
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