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Business News/ Markets / Stock Markets/  Small cap stock declares a whopping dividend of 30, net profit up 51% in Q3
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Small cap stock declares a whopping dividend of ₹30, net profit up 51% in Q3

With a market valuation of ₹4,735.87 Cr, Polyplex Corporation Limited is a small-cap company that engages in the industrial industry.

The shares of Polyplex Corporation Limited closed today on the NSE at ₹1,516 apiece, down by 0.69% from the previous close of ₹1,526.60. (PTI)Premium
The shares of Polyplex Corporation Limited closed today on the NSE at 1,516 apiece, down by 0.69% from the previous close of 1,526.60. (PTI)

With a market valuation of 4,735.87 Cr, Polyplex Corporation Limited is a small-cap company that engages in the industrial industry. The capacity of polyester (PET) film produced by Polyplex Corporation Ltd. (Polyplex) is the seventh-largest in the world. One of the top producers of PET film, Polyplex has a presence all over the world, delivering to more than 2650 customers in 75 nations in Europe, the Americas, the Indian subcontinent, the Far East, Asia Pacific, and the Middle East.

The company has said today in a stock exchange filing that the Board of Directors has approved “Declaration and payment of Second Interim Dividend (Special) for the Financial Year 2022-23 @ Rs. 30 per share of the face value of Rs. 10/- each." Polyplex Corporation has fixed February 24,2023 as the record date for the purpose of payment of aforesaid dividend.

On a standalone basis, the company reported revenue from operations of 369.55 Cr in Q3FY23 compared to 467.28 Cr in Q3FY22, representing a YoY fall of 20.01% YoY. The company's net expenses reached 374.99 Cr in the quarter ended December 2022 compared to 400 Cr in the year-ago quarter. The net profit of Polyplex Corporation reached 147.51 Cr in Q3FY23 compared to 97.12 Cr in the year-ago quarter, representing a growth of 51%. The standalone EPS of Polyplex Corporation reached 46.99 in Q3FY23 compared to 30.94 in Q3FY22.

On a consolidated basis, the company's net sales or revenue from operations reached 1863.34 crore in Q3FY23 compared to 1751.01 crore in Q3FY22, representing a growth of 6.41% YoY. The company's net expenses reached 1844.9 crore in the quarter ended December 2022 against 1475.08 crore in the year-ago quarter. The consolidated net profit of the company reached 38.67 crore in Q3FY23 compared to 175.46 crore in the year-ago quarter, representing a fall of 77.96% YoY. The EPS of Polyplex Corporation reached 12.32 in Q3FY23 compared to 55.89 in Q3FY22.

The shares of Polyplex Corporation Limited closed today on the NSE at 1,516 apiece, down by 0.69% from the previous close of 1,526.60.

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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).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 13 Feb 2023, 10:05 PM IST
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