Home / Markets / Stock Markets /  Multibagger stock rallies over 400% in 3 years, Board declares 150% dividend

With a market valuation of 2,134.82 Cr., Panama Petrochem Ltd. is a small-cap business in the energy industry. One of the top producers and exporters of more than 80 different varieties of petroleum speciality products is Panama Petrochem Ltd. The products are utilised in power, cables, inks and resins, textiles, rubber, cosmetics, pharmaceuticals, and other industrial applications. The firm exports its products to a variety of countries, including the United States, United Kingdom, Europe, Middle East, Australia, the African Subcontinent, and SouthEast Asia. The Board of Directors of the company has declared 150% dividend and the record date for the same is falling next week.

The company has said in a stock exchange filing that “We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of 3 Per Equity Share of 2 each (150%) of the Company. The interim dividend shall be paid on December 6, 2022 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 Thursday , November 24, 2022 which is the Record Date fixed for the purpose."

On a consolidated basis, the company declared net sales of 613.84 crore in Q2FY23 compared to 563.32 crore posted in Q2FY22, representing a YoY growth of 8.97%. The company declared a net profit of 67.43 crore in Q2FY23 compared to 61.92 crore posted in Q2FY22, representing a YoY growth of 8.90%. The company declared an EPS of 11.15 per share in the quarter ended September 2022 compared to 10.24 posted in the year-ago quarter.

The shares of Panama Petrochem Ltd closed on Friday at 354.00 apiece level, up by 6.72% from the previous close of 331.70. In its last trading session, the stock recorded a total volume of 629,684 shares compared to the 20-Day average volume of 118,055 shares. The stock has appreciated 71.89% during the past five years, and over the past three years, it has delivered a multibagger return of 441.86%. The stock has climbed 36.57% over the past year, and on a year-to-date basis, it has risen 37.64% so far in 2022. For the quarter ended September 2022 or Q2FY23, the company recorded a promoter shareholding of 70.37%, FIIs stake of 2.74%, and public stake of 26.89%.


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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