Small Cap Metal Stock Sets Record Date For Rs 1.50/Share Dividend, Scrip Up 340% In 3 Yrs

Kamdhenu Ltd is a small cap metal company which deals in the metal sector. A small-cap metal company that operates in the metal industry is called Kamdhenu Ltd. Since 1995, Kamdhenu Limited has been a reputable leader in the steel production business. In 2008, Kamdhenu also entered the decorative paints industry. Currently, the Kamdhenu Group produces, markets, brands, and distributes a wide variety of products, such as reinforcement steel bars, structural steels, binding wire, colour-coated sheets, plywood, paints, and many more.

"The Board recommended a final dividend.@ 15% i.e. Rs. 1.50 (Rupees One and Paisa Fifty) per equity share of face value Rs. 10 (Rupees Ten) each, subject to the approval of shareholders in their ensuing 29th Annual General Meeting ("AGM"), for the financial year ended on 31st March, 2023. The above final dividend, if declared by the shareholders at the ensuing 29th Annual General Meeting ('AGM'), shall be credited/ dispatched/ paid within 30 days from the date of AGM," said Kamdhenu in a stock exchange filing.

While announcing record date, the company informed stock exchanges on Tuesday that "Pursuant to Regulation 42 of SEBI Listing Regulations, the Record Date for taking record of the members of the Company for the purpose of 29th Annual General Meeting and to determine entitlement of the members for payment of dividend for the financial year ended 31st March, 2023, if approved by the members at the 29th AGM of the Company, is Wednesday, 16th August, 2023 (Record Date)."

In Q4FY23, the firm reported a net income of Rs 167.62 Cr, a drop of 9.59% YoY from Q4FY22's net income of Rs 185.40 Cr. Its net profit jumped by 96.61% YoY from Rs 5.47 Cr in the March 2022 quarter to Rs 10.75 Cr in the March 2023 quarter. The company recorded a total income of Rs.733.67 crores for the fiscal year that ended on March 31, 2023, which is a rise of 21.75% YoY from Rs.602.61 crores for the fiscal year that ended on March 31, 2022. Its net profit climbed by 53.33% YoY to Rs 41.02 Cr in 12MFY23 from Rs 26.75 Cr in 12MFY22.

On Wednesday, the shares of Kamdhenu Ltd opened on the BSE at Rs 312.80 apiece. The stock made a 52-week-high of Rs 442.15 on (25/01/2023) and a 52-week-low of Rs 91.47 on (27/07/2022). The stock has risen by 50.02% during the past five years, and over the past three years, it has generated a multibagger return of 340%. The stock has gone up 62.75% over the past year, but YTD, the scrip has dropped 16.24% so far in 2023.