550% Dividend Payout: Chemicals Stock Declares 43.43% Jump In Net, Rs 11 Dividend; Buy?

Balaji Amines Ltd shares zoomed 9.95% intraday today after the company declared healthy quarterly results and final dividend of Rs 11/- per equity share. Current market price of Balaji Amines share on BSE is Rs 2299.05 per share. Balaji Amines shares soared 4.92% in last 1-week and declined 2.47% in last 1-year. The company has a market capitalisation of Rs 7,449.15 crore. More details below:

Balaji Amines Recommends Final Dividend: As per the BSE filing of the company dated May 8, "Recommended a final dividend of Rs. 11/- per equity share i.e. 550% on face value of Rs. 2/- per share and the same will be payable after it is approved by the shareholders at the 36" Annual General Meeting of the Company."

Balaji Amines Q4 Results: The company, engaged in the specialty chemicals industry, reported on Wednesday a net profit of Rs 68 crore for the quarter ended March 2024, up 43.43% as against the net profit of Rs 47.41 crore in the corresponding quarter of last year. For the entire financial year, net profit of Balaji Amines Ltd declined by 37.07% to Rs 204.85 crore as against Rs 325.5 crore reported in the similar quarter of FY 2023. Operationally, revenue too declined 12.19% to Rs 413.93 crore for Q4 FY 2024 as against Rs 471.39 crore in the similar quarter of last year.Meanwhile, EBITDA soared 4.7% to Rs 97.4 crore YoY with margins soaring 23.5% from 19.7% YoY in Q4 FY2024.

Should You Buy Balaji Amines Ltd Share? Brokerage firm CD Equisearch has recommended buy call for Balaji Amines share with target price of Rs 2653 (from previous target of Rs 3364 per share). The analyst said, "we retain our 'buy" rating on the stock with target price of Rs 2653 (previous target Rs. 3364) based on 30x FY25e EPS of Rs 88.42 over a period of 9-12 months."

Balaji Amines Ltd Shares Performance: The 52-week high price of Balaji Amines Ltd share on BSE is Rs 2,736.35 per share (as on 01/01/2024) and 52-week low price is Rs 1872.90 per share (as on 22/05/2023), respectively. Balaji Amines shares gave return of over 5% in last 1-month, slipped 14% year-to-date, fell 23% in last 2-years, and rallied attractively by 449% in last 5-years. In last 10-years, Balaji Amines Ltd shares gave eye-popping returns of 4630%.

Disclaimer:

The stock highlights the dividend, 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.