LIC Backed Small Cap Stock Sets Record Date For 100% Dividend Payout

Small-cap company Dhanuka Agritech had a market valuation of Rs 3,684.11 Cr on Friday during the closing session. One of the top agro-chemical companies in India is Dhanuka Agritech Limited. The company has declared 100% dividend for FY23 and for the purpose of the same record date has been finalized.

"This is to inform that the Board of Directors in their Meeting held on 25th May, 2023 have recommended 100% Dividend i.e. Rs. 2/- per Equity Share having Face Value of Rs. 2/- per Equity Share for the Financial Year ended 31st March, 2023, absorbing Rs. 91,156,648/- (Rupees Nine Crore Eleven Lacs Fifty-Six Thousand Six Hundred and Forty-Eight only) subject to the approval of Members at the 38" Annual General Meeting of the Company. Pursuant to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, the Company has fixed Friday, July 21, 2023 as the Record Date for determining entitlement of Members for payment of Dividend for the Financial Year Ended 31st March," said Dhanuka Agritech in a stock exchange filing on 09th, July 2023.

Dhanuka Agritech has announced a total equity dividend of Rs. 8 per share for the financial year ended March 2023. The dividend yield at the current share price of Rs 790.95 is 1.01%. Dhanuka Agritech Ltd. has issued 28 dividends since September 4, 2003, according to Trendlyne statistics.

During Q4FY23 the company reported a consolidated net income of Rs 385.97 Cr, up by 16.79% YoY from Rs 330.48 Cr in Q4FY22. Its net profit reached Rs 65.30 Cr in March 2023 quarter up by 20.04% YoY from Rs 54.40 Cr in March 2022 quarter. During the year ended FY2023, its net income was Rs 1744.97 Cr up by 15.46% from Rs 1511.36 Cr recorded in the year ended FY2022. Dhanuka Agritech said its net profit in 12MFY23 was Rs 233.50 Cr, up by 11.78% YoY from Rs 208.89 Cr in 12MFY22.

On Friday, the shares of Dhanuka Agritech closed on the BSE at Rs 790.95 apiece up by 0.12% from the previous close of Rs 790. The stock made a 52-week-high of Rs 817.60 on (06/06/2023) and a 52-week-low of Rs 603.05 on (03/04/2023), indicating that the current market price the stock is trading 3.25% below the 1 year high and 31.15% above the 1 year low. During Q4FY23, the company's promoter shareholding was 70.19%, FIIs stake was 4.05%, DIIs stake reached 16.63% and public stake stood at 9.13%. As per the shareholding pattern of Dhanuka Agritech for January to March 2023 quarter, insurance giant LIC held fully paid-up equity shares of 14,42,199 or 3.16% stake in the company.