300% Dividend, 1:2 Split Declared: Industrial Equipment Co Posts 41% Rise In Profit, Shares Slip 11.71%

Small cap company operating in Industrial Equipment industry, Sanghvi Movers Ltd today declared a jump of 40.71% jump in its profit for the March 2024 quarter to Rs 47.73 crore as against Rs 33.92 crore declared in the corresponding quarter of last year. Board of Directors of Sanghvi Movers recommended final dividend of Rs 6 per equity share of Rs 2/- each and approved stock split/sub-division of shares in the proportion of 1:2 implying 1 share will be sub-divided into 2 shares.

Current market price of Sanghvi Movers share on BSE is Rs 1271.80 per share with sharp intraday fall of 11.71 despite so many announcements. Sanghvi Movers shares rallied 222% in last 1-year and 60% in last 6-months. More details below:

Sanghvi Movers Q4: The company announced its March 2024 quarter revenue at Rs 165.44 crore, up 30.45% as against Rs 126.82 crore reported in the similar quarter of last year. The company's total income from operations for March 2024 quarter came at Rs 176.87 crore as against Rs 131.52 crore reported in the similar quarter of last year. The EPS for the quarter under consideration came at Rs 11.03 from 7.84 in March 2023.

Sanghvi Movers Recommends Stock Split: As per the BSE filing dated May 16, 2024, "approval of sub-division/split of 1 (one) equity share of the Company having nominal/face value of Rupee 2 each (Rupee two only), into 2 (Two) equity shares of Rupee 1 each (Rupee One only), subject to approval of the Members of the Company and any other regulatory authorities, if any."

Sanghvi Movers Recommends Dividend: As per the regulatory filing of the company dated May 16, "recommendation of final dividend 6.00/- (300%) per equity share of Rupees 2/- each, subject to the approval by the Members of the Company at the ensuing AGM of the company."

Sanghvi Movers Share Performance: The 52-week high price of Sanghvi Movers share on BSE is Rs 1483.00 per share (as on 16/05/2024) and 52-week low price is Rs 366.15 per share (as on 25/05/2023). The company's market capitalisation stood at Rs 5,507.37 crore. Sanghvi Movers shares declined 4% in last 1-month, rallied 642% in last 2-years, and zoomed 996% in last 5-years.

Disclaimer: The stock highlights the dividend, stock split, Q4 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 any losses. Please consult a professional advisor.