1:1 Bonus Share, Rs 2.50/Share Dividend Declared: Small Cap Stock’s Net Rises 53.7%

Shares of small cap stock from the plastic sector Safari Industries (India) Ltd saw a rise of 1.64% intraday to 4208.20 per share after the company declared 1:1 bonus share and 2.50 per share interim dividend. The company today announced a rise of 53.7% in its consolidated net profit to Rs 39.8 crore for the quarter ended September 2023 as against Rs 26 crore an year ago. Safari Industries shares skyrocketed 919% in last 3-years only. Check details below:

Safari Industries Declares Interim Dividend: The company issued a BSE filing today pertaining to the announcement of interim dividend stating, "The Board of Directors has declared and approved Interim Dividend of Rs. 2.50 (125%) per equity share of Rs. 2/- each for the financial year 2023-24. The aforesaid Interim Dividend will be paid on or before 30th November 2023." Board of directors of Safari Industries already declared November 10 as record date.

Safari Industries Announces 1:1 Bonus Issue: The company also announced bonus share in the ratio of 1:1 today and stated in its BSE filing, "Subject to approval of Members of the Company, the Board has proposed to issue Bonus Shares to its equity shareholders in the proportion of 1: 1 i.e. 1 (One) new fully paid-up equity share of Rs. 2/- (Rupees Two) each for every l (One) existing fully paid-up equity share of Rs. 2/- (Rupees Two) each."

The Company will credit such bonus shares to the eligible Members within 2 months from the date of Board's approval i.e. on or before 31ST December 2023, added the regulatory filing.

Safari Industries Results For Q2 FY24: The company announced its total revenue at Rs 370.02 crore for Q2 FY2024, up 18% as against Rs 314 crore an year ago, as per its BSE filing. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs 63.4 crore, growing by 51.3 percent as against Rs 41.9 crore in the year-ago period. Safari Industries' EBIDTA margin soared to 17.1%.

Safari Industries Stock Performance & Return: Last trading price of Safari Industries stock on BSE is Rs 4208.20 per share. Its 52-week high price is Rs 4535.00 per share and 52-week low price is Rs 1576.45 per share, respectively. Its market capitalisation is Rs 10,007.99 crore. Safari Industries shares surged 128% in last 1-year, soared 394% in last 2-years, and offered return of 919% in last 3-years. In last 5-years, Safari Industries stock zoomed 447% and gained 6913%.

Safari Industries About: Safari Industries was started as a partnership firm in 1974 to manufacture plastic moulded luggage. Safari Industries (India) Ltd., which was incorporated on 6th July, 1980 took over the undertaking and business of Safari Industries w.e.f. 16th November, 1980. The company manufactures injection moulded plastic articles and vacuum formed plastic articles at its plants at Bombay and Halol Gujarat.

Disclaimer:

The stock just highlights the dividend, bonus share 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.