Rs. 17.50/Share Dividend: Debt Free Specialty Chemical Stock Sets Record Date

Paushak Limited is a small cap company that deals in the specialty chemical sector. The largest phosgene-based specialty chemical firm in India, Paushak Ltd., specialises in the production of isocyanates, chloroformates, carbamoyl chlorides, carbamates, and protecting agents. Paushak Limited, which was founded in 1968, is a subsidiary of the "Alembic Group," an organisation with a more than 115-year history. For FY23, the company has recommended a dividend per equity share with a face value of Rs. 10 of Rs. 17.50 (175%). The record date has been made public by the Board of Directors in order to establish shareholder eligibility for dividend purposes.

The Board of Directors have "Recommended a dividend of Rs. 17.50/- (175%) per Equity Share having face value of Rs. 10/- each, subject to approval of the Shareholders at the ensuing Annual General Meeting ('AGM')," said Paushak in a stock exchange filing.
"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, the 25th July, 2023 as the 'Record Date' for determining the entitlement of members of the Company to receive dividend for the financial year ended 31st March, 2023. The payment of dividend will be made on or from 5th August, 2023, upon the same being approved at the 50th Annual General Meeting scheduled to be held on Tuesday, the 1st August, 2023," informed Paushak to stock exchanges on 4th July, 2023.

During Q4FY23, the company recorded a net income of Rs 58.88 Cr, up by 10.41% YoY from Rs 53.33 Cr in Q4FY22. Its net profit reached Rs 14.35 Cr during the quarter ended March 2023 up by 8.55% YoY from Rs 13.22 Cr recorded during the same quarter of FY22. During the year ended FY2023 the company's net income was Rs 221.40 Cr up by 42.62% YoY from Rs 155.24 Cr recorded during the year ended FY2022. Paushak said its net profit was Rs 54.01 Cr in 12MFY23 up by 43.61% from Rs 37.61 Cr in 12MFY22.

On Wednesday, the shares of Paushak opened on the BSE at Rs 6919.00 apiece. The stock made a 52-week-high of Rs 10,379.00 on (01/08/2022) and a 52-week-low of Rs 6,180.05 on (31/03/2023). During Q4FY23, the company's promoter shareholding was 66.97%, FIIs stake was 0.01% and public stake reached 33.01%. As per the data of Trendlyne, Paushak holds a debt to equity ratio of zero and its PE Ratio is 39.4, lower than its sector PE ratio of 47.6.