FMCG Stock To Mull Stock Split, Bonus Share, Dividend On June 25, Shares Hit 20% Upper Circuit

Small cap company operating in FMCG sector, Milkfood Ltd. share today hit 20% upper circuit soon after it informed about its upcoming meeting of Board scheduled to be held on June 25 to consider bonus share, stock split, and dividend. Current market price of Milkfood share on BSE is Rs 675.00 per share. Milkfood shares offered eye-catching returns of 27.56% in last 1-week and 98.6% return in last 2-years. The company has a market capitalisation of Rs 413.76 crore as on June 20, 2024 on BSE. Check details below:

Milkfood To Consider Stock Split: As per the exchange filing issued today, the company will also consider the "the Proposal for sub-division of company's equity shares having face value of Rs 10/- each and matters related thereto, as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required, including the approval of the shareholders of the Company."

Milkfood To Mull Bonus Issue: The BSE filing dated June 20 stated, "the proposal for Bonus Issue along-with other matter, if any, as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required, including the approval ofthe shareholders ofthe Company."

Milkfood To Consider Dividend On June 25: According to the BSE filing of the company dated June 20, 2024, "we hereby inform you that a Meeting of the Board of Directors of the Company will be held on Tuesday, the 25th day of June, 2024 to inter alia, consider and approve the Proposal for payment of interim dividend if any, on the equity shares of the Company."

Milkfood Share Performance: Milkfood shares offered attractive return of 28% in last 2-weeks, gained 32% in last 3-months, offered return of 17% in last 6-months, and gained 20% in last 1-year. In last 3-years, Milkfood Ltd stock jumped 64%.

Milkfood Results: The company declared its net sales at Rs 121.69 crore for the quarter ended March 2024, down 8.81% from Rs 133.45 crore declared in the corresponding quarter of last year. The FMCG company announced its quarterly net profit for the March 2024 quarter at Rs 3.88 crore, up 14.45% as against Rs 3.39 crore declared in the similar quarter of last year. Its EBITDA stood at Rs 10.64 crore for March 2024 quarter, up 28.19% as against Rs 8.30 crore declared in March 2023. Its EPS soared to Rs 7.77 in March 2024 from Rs 6.94 declared in March 2023.

About: Incorporated in 1973, Milkfood Limited is located in Patiala, at the heart of a milk-producing region. It is a part of the Jagatjit Group of Industries, with its base at Hamira in Jalandhar (Punjab) and its corporate office in the National Capital, Delhi. Milkfood Limited has ultra modern machinery, plant engineering by expert professionals in the dairy field, fully automated & plc controlled plants, a fully equipped integrated laboratory dedicated to R&D and continuous improvement of product lines, according to its official website.

Disclaimer:

The stock highlights the bonus share, sub-division, dividend 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.