Rs 25/Share Dividend: Chemical Stock Set To Trade Ex-Dividend, Shares Up 63.35% From Lows

small cap specialty chemicals Foseco India Ltd shares will trade ex-dividend on June 4, 2024 for Rs 25 per share final dividend. Current market price of Foseco India share on BSE is Rs 3732.10 per share with intraday gain of 3.73%. The company has a market capitalisation of Rs 2383.49 crore. Foseco India shares already offered 133% rally in last 2-years span. The company's annual general meeting (AGM) will be held on June 11, 2024. FII/FPI have increased holdings from 0.22% to 0.24% in March 2024 quarter. Number of FII/FPI investors decreased from 18 to 16 in March 2024 quarter. Mutual Funds have increased holdings from 0.07% to 0.10% in March 2024 quarter. Currently, Foseco India shares have jumped 63.35% from 52-week low price of Rs 2540.05 per share. More details below

Foseco India To Trade Ex-Dividend: As per the BSE filing of the company, "notice is hereby given that the 67th Annual General Meeting of the Members of Foseco India Limited ("the Company") will be held on Tuesday, 11 June 2024 at 1400 Hours (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM), to transact the businesses as mentioned below:

To declare a Final Dividend of Rs. 25/- per share (i.e., 250%) on the paid-up equity share of Rs. 10 each of the Company for the financial year ended 31 December 2023."

Foseco India Declares Change In Internal Auditors: As per the BSE filing of the company dated May 29, "the Board of Directors of the Company has today i.e., May 29, 2024, approved the appointment of Ernst and Young LLP, Pune, (E&Y) as the Internal Auditors of the Company for a period of 2 years effective from 1st April, 2024, in place of P G Bhagwat LLP, Chartered Accountants, whose term of appointment has ceased on 31st March 2024."

Foseco India Share Performance & Return: The 52-week high price of Foseco India share on BSE is Rs 4149.25 per share (as on 19/12/2023) and 52-week low price is Rs 2540.05 per share (as on 03/07/2023). Foseco India shares offered return of 6.52% in last 2-weeks, gained 30% in last 1-year, and jumped 164% in last 3-years.

Foseco India Q4: The company for the quarter ended March 2024 declared its net sales at Rs 122.55 crore, up 10.46% as compared to Rs 110.95 crore declared in the corresponding quarter if last year. The company's net profit declared at Rs 15.85 crore for the quarter ended March 31, 2024, up 14.24% as against Rs 14.24 crore in the March 2023 quarter. Its EBITDA stood at Rs 23.46 crore for March 2024, up 13.33% from Rs 20.70 announced in March 2023. The company's EPS soared to Rs 24.81 for the quarter under review from Rs 22.29 in March 2023.

About: Foseco, is a world leader in the supply of foundry consumables and solutions. The foundry process is highly sequential and critically dependent on consistency of product quality and productivity optimisation. It solutions and advanced computer simulation techniques allow foundries to reduce casting defects such as pinholes, shrinkage cavity, inclusions, scabbing, penetration or veining. Hence the Foseco products reduce labour-intensive fettling and machining, minimise metal usage requirements, influence the metal solidification process and automate moulding and casting, thus reducing cost, energy usage and mould size, according to its official website.

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