Leading Multibagger Conglomerate Stock Offers 230% Dividend: Check Details

DCM Shriram Ltd. recently announced an interim dividend of 230% or Rs. 4.60/ share. The current market price of the stock stood at Rs. 1,057.25 a piece.

The company has said in a stock exchange filing that "The Board of Directors declared an interim dividend of 230% i.e. Rs. 4.60/- per equity share of face value of Rs.2/- each for the financial year 2022-23, which will be paid/dispatched to all concerned on or before 17.11.2022."

DCM Shriram Ltd. - stock performance

In the last 1 year its share price has gained by 7.46%, and in the last 5 years its share price surged by 107.04%, making it a multibagger stock.

The 52-week high level of this stock is Rs. 1,263.85, and the 52-week low level of this stock is Rs. 895. This mid-cap company has a market capitalization of Rs. 16,536 crore.

DCM Shriram Ltd. is a leading business conglomerate with a group turnover of Rs. 9,849 crores. The business portfolio of DCM Shriram comprises primarily of Agri-Rural Business, Chlor-Vinyl Business, and Value added business. DCM Shriram has manufacturing facilities of Fertiliser, Chloro Vinyl & Cement in Kota (Rajasthan) and of Chlor- Alkali in Bharuch (Gujarat). DCM Shriram Sugar factories are located in Ajbapur, Rupapur, Hariawan and Loni in Uttar Pradesh, with a combined installed capacity of 38,000 TCD (tonnes crushed of sugarcane daily) and a power-generating capacity of 155 MW.

However, the company has reported a muted profit in Q2 FY23. Its consolidated net profit stood at Rs. 128.12 crore in Q2FY23, fell by 19.17% YoY from Rs. 158.50 crore in Q2FY22, while it fell by 49.55% QoQ. In the reported quarter, the company's total revenue from operations stood at Rs. 2,875.38 crore, gained by 32% YoY from Rs. 2,177.53 crore in Q2FY22, but dropped by 3.24% QoQ. Additionally, its EBITDA fell by 2.85% YoY to Rs. 302.37 crore in Q2FY23 from Rs. 311.23 crore in the year-ago period.

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