Penny Stock Below Rs 50 To Mull 100% - 165% Dividend Next Week; Do You Own?

Gujarat Toolroom is a capital goods firm classified as small-cap. As of Friday's BSE closing session, its market value was Rs 250.44 Cr. Gujarat Tool Room is an expert in producing multi-cavity moulds with high production volumes. Gujarat Tool Room is a one-stop shop for complete solutions, including product design, mould design, and plastic component manufacturing. Next week, the Board of Directors will convene to discuss and authorize the dividend for the current fiscal year.

Gujarat Toolroom Dividend

"We are pleased to inform you that a meeting of the Board of Directors of Gujarat Toolroom Limited is scheduled to be convened on Monday - April 8, 2024, at 12:00 P.M to discuss various matters, including the declaration of dividend for the current financial year. In light of the company's strong financial performance and prudent financial management, we are considering proposing a dividend payout to our valued shareholders. The proposed dividend is anticipated to be in the range of 100% - 165%," said Gujarat Toolroom in a regulatory filing on 4th April.

"This decision underscores our commitment to rewarding our shareholders for their steadfast support and trust in Gujarat Toolroom Limited. We are pleased to note that the company is in a profitable position and maintains sufficient reserves to facilitate this initiative. Rest assured, the proposed dividend declaration aligns with our strategic objective of enhancing shareholder value and ensuring sustainable returns. Following the conclusion of the board meeting, we will promptly communicate the outcome and provide any additional details as required by regulatory standards," the company further added in the BSE filing.

Gujarat Toolroom Financials

On a standalone basis, the company reported net sales of Rs 57.97 crore in the December 2023 quarter up 72.73% from Rs. 33.56 crore in the December 2022 quarter. Its quarterly net profit stood at Rs. 3.99 crore in Q3FY24 up 519.37% from Rs. 0.64 crore in Q3FY23. EBITDA reached Rs. 5.32 crore in the reported quarter up 731.25% from Rs. 0.64 crore in the same quarter of FY23.

Gujarat Toolroom Share Price

On Friday, the shares of Gujarat Toolroom closed 4.47% lower at Rs 45.08 apiece on BSE. The scrip reached a 52-week-high of Rs 62.97 on (11/03/2024) and a 52-week-low of Rs 8.92 on (06/04/2023).