Small Cap Stock Sets Record Date For Dividend, FIIs & MF Stake Up In Q4

Astec LifeSciences is a small cap company that deals in the fertilizers & agrochemicals sector. Astec produces a variety of fungicides, insecticides, herbicides, and intermediates. At Mahad, Astec has two versatile production facilities. The company has declared a final dividend of 15% for FY23, and for the purpose of the same record date has been finalized.

"The Board of Directors has recommended Final Dividend of 15% (Fifteen per cent) on the Equity Share Capital of the Company, i.e., Rs.1.50 (Rupee One and Paise Fifty ) per Equity Share of Face Value of Rs.10/- (Rupees Ten Only) each for the Financial Year ended 31st March, 2023, subject to approval of the Shareholders at the ensuing 29 th (Twenty Ninth) Annual General Meeting of the Company," said Astec LifeSciences in a stock exchange filing.

"Final dividend [if declared at the ensuing 29th (Twenty Ninth) AGM], will be paid to the Shareholders whose names appear in the Register of Members of the Company as on Friday, 21st July, 2023 and in respect of shares held in dematerialized form, it will be paid to Shareholders whose names are furnished by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), as the beneficial owners as on that date," said Astec LifeSciences in a stock exchange filing.

For the purpose of the 29th (Twenty-Ninth) AGM and payment of the final dividend, the company's register of members and share transfer books will be closed from Saturday, July 22 to Wednesday, July 26 (inclusive). The company will hold its 29th annual general meeting ("AGM") on July 27, 2023.

The company recorded a net income of Rs 129.54 Cr during Q4FY23 down by 53.53% YoY from Rs 278.78 Cr in Q4FY22. The company reported a net loss of Rs 4.98 Cr during the March 2023 quarter down by 111.57% YoY from net profit of Rs 43.05 Cr in the same quarter of FY22. During the year ended FY2023, its net income was Rs 641.22 Cr down by 6.67% YoY from Rs 687.03 Cr in the year ended FY2022. Astec LifeSciences said its net profit was Rs 25.56 Cr during 12MFY23 down by 71.55% from Rs 89.85 Cr in 12MFY22.

On Tuesday, the shares of Astec LifeSciences opened on the BSE at Rs 1345.35 apiece. The stock made a 52-week-high of Rs 2,285.65 on (17/11/2022) and a 52-week-low of Rs 1,050.00 on (28/03/2023). During Q4FY23, the company reported promoter shareholding of 66.76%, FIIs stake of 2.29%, DIIs stake of 10.58% and public shareholding of 20.37%. As per the data of Trendlyne, promoters holding of Astec LifeSciences was flat at 66.77% in March 2023 quarter, FII/FPI stake grew from 2.19% in December 2022 quarter to 2.29% in March 2023 quarter, mutual funds stake climbed from 8.45% to 9.57%, and institutional investors have raised their stake from 11.76% in Q3FY23 to 12.87% in Q4FY23.