Small Cap Chemical Stock Hit 52-Week-High As Board Sets Record Date For 100% Dividend Payout

Indo Borax & Chemicals Ltd is a small cap company which deals in the Commodity Chemicals sector. On Friday, the scrip opened on the BSE at Rs 188.55 apiece and hit a fresh 52-week-high of Rs 189.90 during the morning deals. Heavy buying demand was witnessed in the stock after the Board of Directors of the company finalized the record date for 100% final dividend payout for FY23.

Indo Borax & Chemicals Dividend

"Pursuant to regulation 42 of SEBI Listing Regulations, it is hereby informed that the company has fixed 11th August, 2023 as record date for the purpose of determining entitlement of the members of the company to receive dividend of Rs. 1.00 (@100%) per equity shares having face value of Rs. 1/- each fully paid up, for the financial year 2022-23. The said dividend if approved by the shareholders at the ensuing Annual General Meeting shall be paid on or after 23rd August, 2023, subject to deduction of tax at source as applicable," said Indo Borax & Chemicals in a stock exchange filing.

Indo Borax Financials

During Q4FY23, the company recorded a net income of Rs 58.33 Cr, up by 17.49% YoY from Rs 49.64 Cr recorded in Q4FY22. Its net profit stood at Rs 12.64 Cr in March 2023 quarter, up by 20.39% YoY from Rs 10.50 Cr reported in the same quarter of FY22. Its EPS was Rs 3.94 in Q4 FY2023 compared to Rs 3.27 in Q4 FY2022.

During the Year Ended FY2023, the company recorded a net income of Rs 232.25 Cr up by 29.80% YoY from Rs 178.93 Cr posted in the Year Ended FY2022. Indo Borax & Chemicals said its net profit was Rs 50.69 Cr in 12MFY23 up by 39.38% YoY from Rs 36.37 Cr recorded in 12MFY22. Its annual EPS stood at Rs 15.80 in 12MFY23 compared to Rs 11.33 in the entire FY22. Indo Borax & Chemicals is yet to declare its Q1FY24 financial results.

Indo Borax & Chemicals Share Price

While writing this copy, the shares of Indo Borax & Chemicals were trading on the BSE at Rs 180.80 apiece with a downside gap of 1.31%. The stock made a 52-week-high of Rs 189.90 on (28/07/2023) and a 52-week-low of Rs 96.80 (on 29/03/2023).

During Q1FY24, the company recorded promoter shareholding of 52.07%, FIIs stake of 0.22% and public stake of 47.71%.