Multibagger stock rallies 450% in 3 years, Board approves 2nd interim dividend

With a market valuation of ₹240.20 crore, Maan Aluminium Ltd. is a small-cap company that engages in the metal industry. With more than 32 years of expertise in the sector, the company is one of India's leaders in the aluminium extrusion sector. The firm is one of the largest producers and exporters of aluminium-extruded products in the country. The company is recognised as a One Star export firm and exports its products across the world. At its meeting conducted today, November 5, 2022, the Company's Board of Directors decided to declare a second interim dividend of 10% for the fiscal year 2022–2023.

The company has said in a stock exchange filing that “We wish to inform you that the Board of Directors of the Company at their meeting held today i.e. 05th November, 2022 has considered and declared 2nd Interim Dividend @ Rs. 1/-(10%) per share for the financial Year 2022-2023. The details of the interim dividend payable will be as under: Dividend of Rs. 1/-(10%) per share on 1,35,21,216 Equity Shares of Rs. 10/- each fully paid up. Pursuant to Regulation 42(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Friday 18th November, 2022 has been fixed as the Record date for the purpose of Interim Dividend. The Interim Dividend shall be paid to the Equity Shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday 18th November, 2022 which is the Record Date fixed for the purpose.”

In Q2FY23, the company reported revenue from operations of ₹188.20 Cr compared to ₹173.16 Cr in Q1FY23 and ₹158.15 Cr in Q2FY22, representing a YoY growth of 19% and QoQ growth of 8.68%. In Q2FY23, the company reported a net profit of ₹13.10 Cr compared to ₹8.40 Cr in Q1FY23 and ₹4.69 Cr in Q2FY22, representing a YoY growth of 179% and a QoQ growth of 55.95%. The EPS climbed to ₹9.69 per share in Q2FY23, from ₹6.21 in Q1FY23 and ₹3.47 in Q2FY22.

The shares of Maan Aluminium Ltd closed on Friday at ₹180.00 apiece, down by 4.48% from the previous close of ₹188.45. During its last trading session, the stock recorded a total volume of 78,639 shares compared to the 20-Day average volume of 55,829 shares. In the last 5 years, the stock has given a multibagger return of 181.12% and in the last 3 years, the stock has given a multibagger return of 450.97%. In the last 1 year, the stock has gained 39.86% and on a YTD basis, the stock has gained 50.00% so far in 2022. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 66.04%, FIIs holding of 0.23%, and a public stake of 33.72%.