Rs 2.5/Sh Dividend, 1:1 Bonus, 1:2 Split Recommended: FMCG Stock Jumps 94% In 2-Yrs

Small cap company operating in FMCG sector, Milkfood Ltd. on June 25 recommended an interim dividend of Rs 2.50 per equity share and fixed July 5, 2024 as the record date. The FMCG company also announced 1:1 bonus issue and 1:2 stock split. Current market price of Milkfood share on BSE is Rs 679.00 per share with intraday fall of 3.49%. Milkfood Ltd shares offered 21.08% return in last 1-week and soared 94% in last 2-years. Its market capitalisation stood at Rs 413.82 crore. Check details below:

Milkfood Ltd Recommends Interim Dividend, Sets Record Date: As per the BSE filing of the company announced on June 25, "Payment of Interim Dividend @ 25% i.e. Rs. 2.50 per equity share of Rs. 10/- each fully paid-up on the equity shares of the Company during the Financial Year 2024-25." The Board of Directors of the Company have fixed Friday, 5th July, 2024 as Record date for the purpose of determining the names of the members who will be entitled to receive the Interim Dividend. The payment of interim dividend shall be made on or before 23.07.2024 to all eligible shareholders, whose names appear in the Register of Members as on Record Date.

Milkfood Declares Bonus Share: The BSE filing added, "Recommended the proposal for Issue of 1 (One) bonus equity shares for every 1 (one) fully paidup equity share and Capitalization of Securities Premium Account of at-least Rs. 6,09,45,450/- (Rupees Six Crore Nine Lakhs Forty Five Thousand Four Hundred and Fifty Only) from and out of the Securities Premium Account as per the Audited Financial Statements ofthe Company for the Financial Year ended on 31st March 2024, for the purpose of issuance and allotment of Bonus Equity Shares offace value of Re. 5/- (Rupee Five Only) each, to be credited as fully paid-up Equity Shares to the holders of the existing Equity Shares of the Company whose names appear in the Register of Members or in the Register of Beneficial Owners maintained by the Company/ Depositories as on the Record Date subject to approval of shareholders ofthe company in general meeting.

Milkfood Announces Stock Split: The exchange filing stated, "recommended the proposal of sub-division of equity share of face value of Rs. 10 /- each fully paid up into equity shares of face value of Re. 5/- each fully paid up at the "Record Date" to be determined as authorized by the Board of Directors, subject to the approval of the shareholders in General Meeting of the Company."

Milkfood Share Performance: Milkfood shares rallied 29.11% in last 2-weeks, soared 35% in last 3-months, zoomed 19% in last 6-months, and offered return of 87% in last 3-years. The 52-week high price of Milkfood Ltd share on BSE is Rs 824.45 per share (as on 26/06/2024) and 52-week low price is Rs 490.00 per share (as on 22/03/2024).

Milkfood Results: The company declared its net sales at Rs 121.69 crore for the quarter ended March 2024, down 8.81% from Rs 133.45 crore declared in the corresponding quarter of last year. The FMCG company announced its quarterly net profit for the March 2024 quarter at Rs 3.88 crore, up 14.45% as against Rs 3.39 crore declared in the similar quarter of last year. Its EBITDA stood at Rs 10.64 crore for March 2024 quarter, up 28.19% as against Rs 8.30 crore declared in March 2023. Its EPS soared to Rs 7.77 in March 2024 from Rs 6.94 declared in March 2023.

About: Incorporated in 1973, Milkfood Limited is located in Patiala, at the heart of a milk-producing region. It is a part of the Jagatjit Group of Industries, with its base at Hamira in Jalandhar (Punjab) and its corporate office in the National Capital, Delhi. Milkfood Limited has ultra modern machinery, plant engineering by expert professionals in the dairy field, fully automated & plc controlled plants, a fully equipped integrated laboratory dedicated to R&D and continuous improvement of product lines, according to its official website.

Disclaimer:

The stock highlights the bonus share, sub-division, dividend 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.