Sugar Stock Sets Record Date For Dividend, ICICI Direct Sees Potential 48% Return, Buy

Dalmia Bharat Sugar and Industries Ltd today fixed February 15, 2023 as the record date for interim dividend. The stock gave a return of 239% in last 3-years and ICICI Direct sees yet another 48% potential return if you buy Dalmia Bharat Sugar and Industries Ltd shares at current market price of Rs 332.15 apiece. It has a market capitailsation of Rs 2,688.40 crore. Check details below:

1. Dalmia Bharat Sugar Decides Record Date For Interim Dividend

The board of directors of the small cap company stated in the BSE filing, "Board has declared an interim dividend of Rs. 3/- (150%) per equity share of Rs. 2/- for the financial year 2022-2023. Pursuant to 'Regulation 42 of SEBI Listing Regulations, the Board of Directors has fixed Wednesday, February 15, 2023 as the Record Date for the purpose of determining the members to make payment of said interim dividend."

2. Dalmia Bharat Sugar Q3 Result

It declared a net income of Rs 623 crore as compared to Rs 636 crore in Q3 FY 2022, DOWN 2% YoY. The Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to Rs 135 crore in Q3 FY 2023 as against Rs 116 crore in the year ago period, up 17%.

The company declared a profit before tax (PBT) at Rs 93 crore in the quarter ended December 2022 as compared to Rs 80 crore in the quarter ended December 2022, up 17% YoY.

The company net profit or PAT surged 65 crore in Q3 FY 2023 as compared to Rs 57 crore declared in year ago quarter, up 15% YoY.

3. Dalmia Bharat Sugar Stock Performance & Return

The last trading price of the stock is Rs 332.15 apiece with an intraday decline of 0.35%. The stock's 52-week high is Rs 568.65 apiece and 52-week low is Rs 282.10 apiece, respectively. The stock gave a return of 239% in last 3-years, and 226% in last 5-years. It declined 26% in last 1-year and 6% in last 6-months.

4. Dalmia Bharat Sugar Valuation

Leading brokerage firm ICICI Direct in its brokerage report dated November 9, 2022 stated, "We expect 36.1% CAGR in distillery revenues, led by ethanol volumes, to boost the company's earnings at 16.1% CAGR during FY22-24E We maintain our BUY rating on the stock. We value the stock at Rs 490, ascribing a multiple of 10x FY24 earnings."

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.