Mid Cap FMCG Stock Fixes Record Date For 125% Dividend, Scrip Hit 52-Week-high

CCL Products (India) is a mid cap FMCG company that recorded a market cap of Rs 9,710.37 Cr during Friday's closing session. The company manufactures private labels and exports the largest quantity of instant coffee in the world. The company has recommended a final dividend of 125% for FY23 and for the purpose of the same record date has been made public by the Board.

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of directors in its meeting held on 14th July, 2023 fixed 11th August, 2023 as the record date for the purpose of payment of final dividend of Rs. 2.5/- per equity share of nominal value of Rs. 2/- each to the members of the Company for the financial year ended 2022-2023 as recommended by the Board of Directors in its previous meeting held on 16th May, 2023," said CCL Products in a stock exchange filing on Friday.

CCL Products India has announced an equity dividend of 275.00% at a face value of Rs 2, or Rs 5.5 per share, for the financial year ended March 2023. This generates a dividend yield of 0.75% at the current share price of Rs 729.95. The company has a solid track record of dividend declarations during the past five years. According to Trendlyne's statistics, CCL Products India Ltd. has issued 30 dividends since July 9, 2001.

During Q4FY23 the company reported a net income of Rs 522.48 Cr, up by 37.69% YoY from Rs 379.47 Cr in Q4FY22. Its net profit reached Rs 85.29 Cr during March 2023 quarter up by 61.85% YoY from Rs 52.69 Cr reported in March 2022 quarter.
In the year ended FY2023 its net income was Rs 2074.47 Cr up by 41.49% YoY from Rs 1466.12 Cr in the year ended FY23. Its net profit reached Rs 268.87 Cr in 12MFY23 up by 31.58% YoY from Rs 204.35 Cr in 12MFY22. CCL Products is yet to declare its Q1FY24 result.

On Friday the shares of CCL Products made a fresh 52-week-high of Rs 750 during the morning deals and closed on the BSE at Rs 729.95 apiece down by 1.14% from the previous close of Rs 738.40. The stock made a 52-week-low of Rs 400.90 on (25/07/2022). During Q1FY24, the company reported promoter shareholding of 46.26%, FIIs stake of 7.70%, DIIs stake of 21.05% and public stake of 24.99%.