1:1 Bonus Issue: Multibagger Metal Stock Declares Highest-Ever Dividend After Q3 Net Up 934.23%

Indian Metals & Ferro Alloys Ltd shares zoomed 1.85% to settle at Rs 640.00 per share on BSE after the company declared highest ever dividend in its history. Earlier the company's net profit for Q3 FY24 surged by 934% year-on-year (YoY) to Rs 107.87 crore as against Rs 10.43 crore announced in the corresponding quarter of last year.

Indian Metals on March 29, 2024 declared special dividend of Rs 15/- per equity share of Rs 10/- each for the FY ending March 31, 2024. Indian Metals shares also offered multibagger returns to investors at 136% in last 1-year. Check details below:

Indian Metals Declares Highest Ever Dividend: As per the regulatory filing of the company dated March 29, 2024, "declared Special Dividend of INR 15/- (Rupees fifteen only) per equity share of INR 10/- each for financial year ending 31st March 2024. As intimated vide our letter dated 22nd March 2024, the record date for reckoning the list of shareholders who shall be entitled to receive the said Special Dividend shall be Monday, 8th April 2024. The Special Dividend will be paid to such shareholders on or before Saturday the 27th April 2024."

Indian Metals & Ferro Alloys Dividend History: Indian Metals & Ferro Alloys declared 21 dividends since July 8, 2009. In last 12 months, Indian Metals & Ferro Alloys announced an equity dividend of Rs 12.50 per share. If the current share price of Rs 640.00 apiece is taken into consideration, its dividend yield is 1.95%.
Indian Metals & Ferro Alloys Bonus History: The company offered 1 bonus issue since January 7, 2022. Its last bonus issue was declared in the ratio 1:1 with ex-date of January 7, 2022.

Indian Metals & Ferro Alloys Q3 Results: The revenue for Q3 FY24 arrived at Rs 685.27 crore YoY as against Rs 623.62 crore in the similar quarter of last year. EBITDA of the company declared at Rs 167.87 crore for Q3 FY24 from Rs 67.02 crore reported in the similar quarter of last year.

Commenting on the Q3 results, Subhrakant Panda, Managing Director, said: "The third quarter earnings numbers are creditable in a difficult global environment where stainless steel demand has been muted and ferro chrome prices have softened, though costs have come down significantly too."

Indian Metals & Ferro Alloys Share Performance: The 52-week high price of Indian Metals shares on BSE is Rs 685.95 apiece and 52-week low price is Rs 268.45 apiece, respectively. The company has a market capitalisation of Rs 3453.06 crore. Indian Metals & Ferro Alloys has a PE of 9.30 and EPS (TTM) of 19.99. Indian Metals shares gained 24% year-to-date, soared 54% in last 6-months, offered return of 136% in last 1-year. In last 2-years, Indian Metals stock rallied 50%, gained 184% in last 3-years, and offered return of 399% in last 5-years.

Indian Metals About: Established in 1961 in the Eastern State of Odisha known for its rich natural resources, IMFA is India's leading fully integrated producer of value added ferro chrome with 190 MVA installed furnace capacity backed up by 204.55 MW captive power generation capacity (including 4.55 MWp solar) and extensive chrome ore mining tracts. We are unique from the quality perspective due to comprehensive ISO 9001 Quality Management certification, according to its LinkedIn page.

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