Multibagger High Promoters Holding Stock Up 178% From 52-Week-Low To Pay 50% Dividend Soon: Do You Own?

Small-cap firm NDR Auto Components had a market cap of Rs. 500.86 Cr. on Friday at the closing session. NDR Auto Components manufactures full seating systems for the surface transportation, two-wheeler and four-wheeler markets. For the fiscal year that concluded on March 31, 2023, the Board of Directors has proposed a dividend at 50%, or Rs. 5 per equity share at a face value of Rs. 10 each, of the Company. Following shareholder approval, the dividend is obligated to be paid within 30 days of declaration.

In order to determine the eligibility of the shareholders for the purpose of dividend the company said in a stock exchange filing that "Kindly note that the disclosure made for period of Book Closure from July 13, 2023 to July 19, 2023 (both days inclusive), with cut-off date of July 12, 2023 is only for the purpose of dividend and Annual General Meeting (AGM)."

The Board of Directors of NDR Auto Components have also recommended bonus shares in 1:1 ratio. "The record date for the purpose of determining eligible shareholders entitled to receive bonus shares shall be intimated after the AGM, if the Bonus resolution is approved by the Shareholders," said NDR Auto Components in a stock exchange filing.

Its revenue from operations in Q4FY23 was Rs 130.25 Cr compared to Rs 79.59 Cr in Q4FY22, a rise of 63.65% YoY. Its net income for the quarter ended March 2023 was Rs 133.05 Cr, up from Rs 81.05 Cr the same quarter of FY22. According to NDR Auto Components, its net profit for the quarter under review was Rs 7.50 Cr, up from Rs 3.54 Cr in the same quarter last year by a percentage point of 111.86%.

On Friday, the shares of NDR Auto Components closed on the NSE at Rs 837.10 apiece up by 0.61% from the previous close of Rs 832.05. The stock touched a 52-week-high of Rs 888.00 on (30-May-2023) and a 52-week-low of Rs 300.65 on (20-Jun-2022), indicating that at the current market price, the stock is trading 178.43% above the 1-year low and 5.73% below the recent 1 year high.

During Q4FY23, the company recorded promoters shareholding of 73.95% and public stake of 26.06%. At the current level, the promoters stake of NDR Auto Components is much higher than its peers such as Tube Investments, Bosch, Samvardhana Motherson International, Uno Minda, Sona BLW Precision Forgings, and Motherson Sumi Wiring India.