1150% Dividend Declared: Small Cap Engineering Firm Reports 93% Gain In Net, Rs 115 Dividend

Small cap engineering sector company Stovec Industries Ltd today declared an attractive surge of 93.88% in its net profit to Rs 4.75 crore for the quarter ended March 2024 as against Rs 2.45 crore declared in the corresponding quarter of last year. However, Stovec Industries shares slipped by 0.52% to settle at Rs 2630.90 apiece.

The Board of Directors of Stovec Industries recommended an interim dividend of Rs 115/- per equity share of Rs 10/- each for the financial year 2024. The Board has fixed May 27 as the record date for interim dividend. Stovec Industries share zoomed 8.71% in last 3-months. More details below:

Stovec Industries Recommends Dividend: As per the BSE filing of the company dated May 9, 2024, "declaration of interim dividend of Rs. 115/- per equity share of Rs. 10/- each (i.e. 1150 %) for the financial year 2024 and Board has fixed May 27, 2024 is the record date for payment of said interim dividend to the members who will hold the shares on this record date and the payment will be made on or before its due date."

Stovec Industries Q4 Results: The company's sales surged 35.05% to Rs 59.96 crore for the quarter ended March 2024 as compared to Rs 44.40 crore reported in the similar quarter of last year.

Stovec Industries Share Performance & Return: The 52-week high price of Stovec Industries shares on BSE is Rs 3030.00 apiece (as on 27/02/2024) and 52-week low price is Rs 2021.00 per share (as on 15/05/2023), respectively. The company has a market capitalisation of Rs 549.34 crore. Stovec Industries shares surged 6% YTD, zoomed 8% in last 6-months, rose 16% in last 1-year, and offered return of 44% in last 3-years. In last 10-years, Stovec Industries shares gained 458%.

About: Stovec Industries Ltd., was founded in 1972 to fulfill global and local requirements for engraving, printing and allied offering. The Gujarat based company has been focusing on production innovation for rendering competing solutions. The company is trusted all over markets for Screens For Textile Printing, Rotary Screen Textile and more, according to its official website.

Disclaimer: The stock just highlights the dividend, Q4 results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.