close
close

Yiamastaverna

Trusted News & Timely Insights

Dividend stock Multibagger announces 1:5 share split after 2000 percent increase in four years
New Jersey

Dividend stock Multibagger announces 1:5 share split after 2000 percent increase in four years

Dividend share 2024: Agarwal Industrial Corporation shares are one of the multibagger stocks that have delivered outstanding returns in the post-COVID rally. This small-cap stock has risen from around 60 to 1240 per share on the NSE in the last four years, representing a rally of around 2,000 percent. The small-cap stock will trade ex-dividend on September 6, 2024, to mark the finalization of eligible shareholders for payment of 3 per share final dividend in the financial year 2023-24.

Meanwhile, the board of directors of this multibagger company has approved a 1:5 stock split. This means that one share of the company with a nominal value of 10 per ordinary share will be divided into five equal shares with a nominal value of 2 per share.

Agarwal Industrial Corporation Stock Split 2024

The Dividend Board announced a 1:5 share split and said: “The Board of Directors considered and approved the split/subdivision of the Company’s common stock with a nominal value of 10 (ten rupees) each fully paid in 2.00 (Rupees Two) each fully paid up in accordance with the provisions of the Companies Act, 2013 and the Rules made thereunder and SEBI(LODR) Regulations, 2015 as amended and MOA and AOA as amended accordingly and further subject to the consent/approval of the members of the company.”

Agarwal Industrial Corporation Q1 FY 2025 Results

For the first quarter of fiscal year 2025, the company reported a year-on-year increase of 12.69% and consolidated revenue of 709.24 Crore. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) recorded a massive increase of 46.53% at 61.71 Crore. PAT (Profit after Tax) was 39.00 Crore, with a significant increase of 41.44%. The company has reported a volume growth of 26.60% and highest ever volume of 170,478.36 MT in Q1. The Board has approved a dividend of Rs. 3 per equity share of face value of Rs. 10 for FY23-24.

The company is the largest bitumen player in the Indian private sector and acts as an infrastructure service provider to the transportation and logistics segments. It also provides logistics for bitumen and LPG in bulk. The company has seven manufacturing facilities, a portfolio of more than 20 products and a fleet of 10 vessels with a capacity of around 1,02,049 tonnes.

The Union Budget 2023-24 laid a solid foundation for infrastructure development with a proposed total expenditure of 45.030.970.0 … 2,720,000 crore for the Ministry of Road Transport and Highways, a significant increase over the previous year.

Disclaimer: The views and recommendations above are those of individual analysts or brokerage firms, not Mint. We advise investors to seek advice from certified professionals before making any investment decisions.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *