This Sugar Company Credits Dividend Into Eligible Shareholders' A/c

This sugar company Dhampur Sugar has credited the Rs. 6 interim dividend for the fiscal year 2022. The company in this regar also sends an intimation to eligible shareholders via an official e-mail.

About the interim dividend and the company's dividend history

Traders' favvourite Dhampur Sugar Mill has been a dividend pay out master and for the Fy 22 it announced an interim dividend of Rs 6 for which the ex stock turned ex-date on March 30, 2022.

The company has been time and again announcing interim dividend but in the Fy 2019 it announced a special dividend of Rs. 3 per share.

Dhampur Sugar price trajectory and other news around the stock

Similar to other sugar companies', this company too is in a sweet spot and gained over 186% in a year on its stock. Its YTD returns are placed at over 80%.

Net sales at the firm had been down YoY by over 17% for the firm.

According to the bulk deal data released in March 2022, Oregon Public Employees Retirement System purchased 4.62 lakh equity shares in Dhampur Sugar Mills via open market transactions. These shares were bought at an average price of Rs492.28 per share.

Dhampur Sugar given a 'Buy' by Sharekhan

Sharekhan in its report has given the stock a buy for a target of Rs. 692. Dhampur Sugar Mills Limited (DSML) is one of the largest sugar companies in India with integrated facilities of 45,500 tonne per day (cane crushing capacity), distillery capacity of 500 kilo litres
per day (KLPD), and co-generation capacity of 216.5 megawatts (MW). The company is focusing on achieving consistent earnings growth and enhancing shareholders' value by focusing on key initiatives such as 1) generating more cane from its command areas, 2) driving operating efficiencies through TPM strategy, 3) investing judiciously in scaling up the ethanol business, and 4) strengthening balance sheet with stable working capital and improved cash flows. Consistent improvement in profitability and reduction in debt will help DSML's earnings to post a CAGR of 22% over FY2021-FY2024. Further, the government's support for increasing ethanol blending to 20% by SS2025 provides further scope to improve growth prospects in the medium to long run. The company strengthened its balance sheet by reducing debt by Rs. 830 crore in the past two years because of improved cash flows (likely to further reduce debt by Rs. 320 crore by FY2024).