Small Cap Stock With Over 1000% Return In 3 Yrs Recommends Final Dividend, Trading Near 52 Week High

Pitti Engineering Ltd. in a Board meeting held on May 29, 2023, recommended 25% Final Dividend i.e. Rs. 1.20/share of face value Rs. 5 each for the financial year 2022-23. The recommended dividend is subject to the approval of members of the company at the 39th Annual General Meeting (AGM) scheduled on Friday, 18th August 2023.

The stock has given over 1000% multibagger return in 3 years, currently, the stock is trading near its 52 week high on NSE. It is an Industrial Consumables sector small-cap stock. It has a market valuation of Rs. 1,166.14 crore.

24% Final Dividend

In an exchange filing the company has said, "Recommended a final dividend of ₹ 1.20/- (24%) per equity share of face value ₹ 5/- each for the financial year ended 31st March 2023 subject to approval of members of the Company at the ensuing 39th Annual General Meeting (AGM) scheduled to be held on Friday, 18th August 2023. The final dividend if approved by the members will be paid within the 30 days from the conclusion of the AGM. The Company had earlier declared interim dividend of ₹ 1.50/- (30%) on 14th February 2023. The total dividend for the financial year ended 31st March 2023 amounts to ₹ 2.70/- (54%) per share."

Stock Outlook

The stock is trading 7.15% away from its 52-week high at Rs. 363.05 apiece. Its 52 week high is Rs. 389 apiece and 52 week low is Rs. 255.60 apiece, respectively. It has fallen 4.23% in 1 week. In the past 3 months, it jumped 35.85%. In the past 1 year, it gave 30.59% positive return, It has given 1056.1% multibageer return in 3 years. In 5 years, it gave 313.31% positive return.

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