4th Largest Chemicals Company Declares 55% Jump In PAT, Rs 5/Share Dividend; Buy?

Small cap company Epigral Ltd today declared final dividend of Rs 5.00 (50%) per equity share. Last trading price of Epigral Ltd share on BSE is Rs 1408.00 per share with intraday gain of 6.74%. Epigral Ltd shares offered 33% return in last 1-month only. Today the renowned integrated chemical manufacturer declared its financial results for the quarter and full year ended March 31, 2024.

It announced a robust growth in PAT for Q4FY24 at Rs 77 Cr, up 55% as against Rs 49 Cr in Q3FY24. Its quarterly revenue soared by 11% to Rs 525 Cr as compared to Rs 472 Cr recorded in Q3FY24. More details about Epigral below:

Epigral Declares Dividend: As per the regulatory filing of the company issued today, "recommended final dividend of Rs. 5.00(50.00%) per equity share on 4,15,50,158 Equity Shares of Rs. 10/- each for the financial year ended 31st March, 2024, subject to approval of the Shareholders of the Company at the forthcoming Annual General Meeting. The Book Closure and Record Date for this purpose will be intimated in due course."

Commenting on the results Maulik Patel, Chairman and Managing Director, Epigral said, "Epigral performed better on sequential basis in every quarter starting from Q2FY24. Our 55% growth in PAT on a sequential basis stands out despite challenging macroeconomics, subdued demand and drop in realizations. We delivered volume growth of 15% in FY2024 and 9% YoY in Q4FY24, as we saw major growth coming in from new projects commissioned in FY2023. Epigral ended FY24, with Q4FY24 witnessing, QoQ, revenue growth of 11% and with EBIDTA margin of 30%."

Epigral Dividend History: Epigral announced 2 dividends since February 1, 2023. In last 12 months, Epigral announced an equity dividend amounting to Rs 2.50 per share. At the current share price of Rs 1408.00, Epigral Ltd offers a dividend yield of 0.18%.
Epigral Share Performance & Return: The 52-week high price of Epigral Ltd share on BSE is Rs 1430.00 per share (as on 22/04/2024) and 52-week low price is Rs 870.00 (as on 07/08/2023), respectively. The company has a market capitalisation of Rs 5,830.94 crore. Epigral shares gave return of 50% in last 6-months and soared 34% in last 1-year.

Should You Buy Epigral Shares? According to AR Ramachandran from Tips2Trades, "Epigral is bullish but also very overbought with next resistance at 1493 on the Daily charts. Investors should book profits at current levels as daily close below support of 1286 could lead to target of 1080 in the near term."

Epigral About: In India, Epigral is the 1st to set up an Epichlorohydrin plant and largest capacity plant of CPVC Resin. Epigral is India's 4th largest manufacturer of Caustic Soda, Chlorine and Hydrogen and a leading manufacturer of Caustic Potash, Chloromethanes and Hydrogen Peroxide, according to its official website.

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