Massive Dividend of Rs 53: November 27 Record Date, To Be Paid By December 12; BUY/SELL?

On December 17, 1991, Multibase India Limited was established under the name Synergy Polymers Limited. Multibase is a multifaceted, integrated manufacturer of silicone-based products and thermoplastic elastomers. The firm works with more than 1000 customers, offers more than 20 products, and exports to international markets. It serves a broad range of industries, including the building, construction, and automotive sectors. A large range of speciality and intermediate chemicals are available from Multibase for use in industrial or consumer sectors.

Multibase India Dividend

The Board of Directors "Recommended interim dividend of INR 53/- (Rupees Fifty- Three only) per equity share having a face value of INR 10/- (Rupees Ten only) each, for the financial year 2024-25. Pursuant to Regulation 42 of the Listing Regulations, the Board has fixed Wednesday, November 27, 2024, as the record date. The said Interim Dividend will be paid/dispatched on or before December 12, 2024, subject to applicable taxes."

Multibase India Financials

The company's net sales for the September 2024 quarter were Rs 18.42 crore, up 13.25% from the September 2023 quarter's Rs 16.26 crore. In Q2FY25, the firm recorded a net profit of Rs. 4.29 crore, up 113.15% from Q2FY24's Rs. 2.01 crore. EBITDA increased 110.42% from Rs. 2.88 crore in the September 2023 quarter to Rs. 6.06 crore in the September 2024 quarter.

Multibase India Share Price Target

"Multibase India stock price is bullish but also overbought on the Daily charts with next resistance at 591. Investors should be booking profits as a Daily close below support of 547 could lead to a target of 414 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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