Home / Markets / Stock Markets /  Multibagger stock hit 20% upper circuit as Board declares 100 dividend

With a market valuation of 211.74 Cr, Narmada Gelatines Ltd. is a small-cap company that operates in the specialty chemical industry. In India, Narmada Gelatines Ltd. is a pioneer in the production of ossein and gelatin, and also leads the country's gelatine market. Madhya Pradesh, a state in central India, is a prime location for the business. The Board of Directors of the company has today announced a whopping special dividend of 100 per share.

The company has said today in a stock exchange filing that “This is to bring to your kind notice that the Board of Directors at their meeting held on 7th December, 2022 have declared a Special Interim Dividend of Rs.100/- per equity share (i.e. 1000%) of the face value of Rs. 10 each fully paid up, for the Financial Year 2022-23. The said dividend of Rs.100/- per equity share shall be paid to the eligible shareholders of the company within 30 days from the date of declaration. Pursuant to the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the RECORD DATE fixed for the purpose of Special Interim Dividend, is Thursday, 15th December, 2022."

On Wednesday, the company revised the record date from Thursday, 15th December to Monday, 19th December, 2022, as per the data available on BSE. “In continuation of our earlier intimation dated 07.12.2022 this is inform you that there has been a change in the RECORD DATE fixed for the purpose of Special Interim Dividend," said the company in a stock exchange filing. 

The firm reported net sales of 46.38 crores in Q2FY23 as opposed to 35.12 crores in Q2FY22, which represents a YoY rise of 32.06%. With a YoY rise of 130.89%, the firm generated a net profit of Rs. 2.84 crore in Q2FY23 as opposed to Rs. 1.23 crore in Q2FY22. From Rs. 2.03 in September 2021 to Rs. 4.69 in September 2022, the EPS for Narmada Gelatin has climbed.

The shares of Narmada Gelatines Ltd closed today at a 20% upper circuit limit of 350.00 apiece. The stock recorded a total volume of 73,008 shares compared to the 20-Day average volume of 9,247 shares. At the current market price, the dividend yield stood at 28.57% if the dividend announced today is taken into account. The stock has produced a multibagger return of 102.60% over the past five years and a multibagger return of 124.22% over the past three years. The stock has produced a multibagger return of 102.60% over the past year, and on a YTD basis, it has appreciated by 85.63% in 2022. The stock had touched a 52-week-low of 160.00 on (20/12/2021), indicating that after hitting a fresh 52-week-high today the stock was seen trading 118.75% above the 1-year low.


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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