Small-cap sugar stock finalizes record date for dividend purpose

Avadh Sugar & Energy Ltd. is a small-cap corporation with a sugar industry operation and a market worth of Rs. 1,068 crore. With a total crushing capacity of 31,200 TCD, the company operates sugar mills in Hargaon (District Sitapur, Uttar Pradesh), Seohara (District Bijnor, Uttar Pradesh), New India Sugar Mills at Hata (District Kushinagar), and Rosa Sugar Works at Rosa (District Shahjahanpur, Uttar Pradesh). Avadh Sugar also has a cogeneration facility that can generate 74 MW of power and two distilleries with a combined capacity of 200 KLPD each in Hargaon and Seohara.

For the purpose of 100% dividend, today the company announced a record date for the shareholders. In its exchange filing, Avadh Sugar has said that “Further, pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has fixed Wednesday, July 13, 2022 as the Record Date for determining entitlements of members to final dividend of Rs. 10/- per equity share of ₹10/- each, if declared at the forthcoming Annual General Meeting of the Company scheduled to be held on July 20, 2022. The Register of Members and Share Transfer Books of the Company will remain closed from Thursday, July 14, 2022 to Wednesday, July 20, 2022 (both days inclusive) for the said purpose.”

In trade today, the stock closed at ₹530.05 down 0.62% from its previous close of ₹533.35. The stock has grown by 0.78 per cent over the past year, and year-to-date (YTD), it has returned 12.12 per cent so far in 2022. The stock has gained by 12.87 per cent over the last six months, but it has fallen by 10.94 per cent during the past month. The share price reached a 52-week high of Rs. 885 on April 22, 2022, and a 52-week low of Rs. 396 on December 20, 2021, meaning that the stock currently is trading 40% below its 52-week high and 33% above its 52-week low. Avadh Sugar shares are now trading above the five-day moving averages, but below the twenty-day, fifty-day, one hundred-day, and two hundred-day moving averages. The RSI indicator reading for Avadh Sugar & Energy Limited is 41.30, and it is in the middle range, neither overbought nor oversold.