Meghmani Organics Zooms Over 5% As Board Sets Record Date For Final Dividend

Meghmani Organics is a small cap company that deals in the fertilizers & agrochemicals sector. The shares of Meghmani Organics opened today at Rs 82.42 and went on to Rs 87.05 during the morning deals logging an intraday gain of 5.68% while writing this copy.

"The Board of Directors at its meeting held on April 29, 2023, has recommended a final dividend of Rs. 1.40 per equity share of the face value of Rs. 1/- each. The final dividend, if declared at the ensuing Annual General Meeting scheduled on June 27, 2023, will be paid to those members of the Company, whose names appear in the Register of Members or Register of Beneficial Ownership as on June 20, 2023 ("Record date"). The dividend will be payable on or after July 4, 2023," said Meghmani Organics in a stock exchange filing.

During the quarter ended March 2023, the company recorded a net income of Rs 582.68 Cr as compared to Rs 838.42 Cr in March 2022 quarter. Its net expenses stood at Rs 499.95 Cr against Rs 695.46 Cr in the corresponding quarter of FY22. Meghmani Organics said its EBIT stood at Rs 82.73 Cr during Q4FY23 as against Rs 142.96 Cr in Q4FY22 and its net profit reached Rs 54.15 Cr as against Rs 102.21 Cr in the same quarter of FY22.

Meghmani Organics shares touched a 52-week-high of Rs 147.95 on (22/07/2022) and a 52-week-low of Rs 75.26 on (29/03/2023). During January to March 2023 quarter, Meghmani Organics reported promoters shareholding of 49.48%, FIIs stake of 1.53%, DIIs stake of 0.45%, Govt stake of 0.05% and public stake of 48.50%.