Rs 25/Share Dividend To Be Rewarded: Chemical Stock Zooms 189% In 2-Yrs, Net Up 33%

Board of Directors of small cap specialty chemicals industry company Foseco India Ltd on February 23 announced final dividend of Rs 25/- per share of Rs 10/- each for the financial year ended December 31, 2023. Foseco India shares offered investors attractive return of 189% in last 2-years and 217% in last 3-years. Check details below:

Foseco India Recommends Final Dividend: As per the BSE filing of the company dated February 23, 2024, "The Board of Directors of the Company has recommended for approval of the Members at the next Annual General Meeting of the Company, a final dividend of Rs. 25/- (250%) on a paid-up equity share of Rs. 10/- each for the financial year ended 31 December 2023."

Foseco India Declares Quarterly Results: The company declared its net profit surged 33.03% to Rs 16.3 crore for the quarter ended December 2023 as compared to Rs 12.26 crore in the corresponding quarter of last year. Its sales witnessed a surge of 15.71% to Rs 122.32 crore for the quarter ended December 2023 as compared to Rs 105.71 crore for the similar quarter of last year. Meanwhile, the company stated the its net profit for the full year surged 58.76% to Rs 72.98 crore for the year ended December 2023 as compared to RS 45.97 crore during the last year ended December 2022. Sales rallied 17.37% to Rs 477.41 crore for the year ended December 2023 as compared to Rs 406.74 crore during the last year ended Dec 2022.

Foseco India Shares Performance & Return: Last trading price of Foseco India shares on BSE is Rs 3860.70 apiece with intraday surge of 2.12%. The 52-week high price of Foseco India shares is Rs 4149.25 apiece and 52-week low price is Rs 1988.70 apiece, respectively. The company has a market capitalisation of Rs 2465.62 crore. Foseco India shares gained 12% in last 3-months, soared 89% in last 1-year, and offered gain of 191% in last 5-years.

About: Foseco, is a world leader in the supply of foundry consumables and solutions. The foundry process is highly sequential and critically dependent on consistency of product quality and productivity optimisation. It solutions and advanced computer simulation techniques allow foundries to reduce casting defects such as pinholes, shrinkage cavity, inclusions, scabbing, penetration or veining. Hence the Foseco products reduce labour-intensive fettling and machining, minimise metal usage requirements, influence the metal solidification process and automate moulding and casting, thus reducing cost, energy usage and mould size, according to its official website.

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