Chemical Stock Sets Record Date For 75% Dividend, FIIs Stake Up In Q4

Sudarshan Chemical Industries Ltd is a small cap chemical company which recorded a market cap of Rs 3,324.64 Cr in Thursday's closing session. With more than 70 years of expertise, Sudarshan Chemical Industries Limited is a leading manufacturer of color and effect pigments for plastics, printing, digital printing, cosmetics, and other applications. The company has declared 75% final dividend for FY23 and for the purpose of the same record date has been made public.

"The Board of Directors at its meeting held on 23rd May, 2023, has recommended Final Dividend of Rs 1.50/- per Equity Share of Rs 2.00/- each (i.e. 75%) for the Financial Year 2022-23, and if approved by the Shareholders at the ensuing 72nd AGM of the Company, such Final Dividend shall be paid on or before 4th September, 2023 to those Shareholders whose name appear as on Friday, 4th August, 2023, i.e. the Record Date," said Sudarshan Chemical Industries in a stock exchange filing.

Sudarshan Chemical Industries has announced an equity dividend of 75.00% at a face value of Rs 2, or Rs 1.5 per share, for the financial year ended March 2023. This generates a dividend yield of 0.31% at the current share price of Rs 480.25. The business has a solid track record of dividend declarations during the past five years. Since August 28, 2002, Sudarshan Chemical Industries Ltd. has issued 27 dividends, as per the data of Trendlyne.

According to the firm, its consolidated profit for the fourth quarter of FY23 was Rs 32.57 crore, down 27% from Rs 44.66 crore in the same quarter of FY22. Revenue from operations for the quarter climbed 10% (YoY) to Rs 685.17 crore in Q4FY23 from Rs 622.54 crore in Q4FY22. The company's profit for Q4FY23 was Rs 22.70 crore, down 23.3% from Rs 29.59 crore on a standalone basis. On a standalone basis, revenue from operations for the quarter climbed 6.5% (YoY) to Rs 535.9 crore from Rs 503.07 crore in Q4FY22. The company is yet to declare its Q1FY24 results.

On Thursday, the shares of Sudarshan Chemical Industries Ltd closed on the BSE at Rs 480.25 apiece down by 1.20% from the previous close of Rs 486.10. The stock made a 52-week-high of Rs 519.45 on (15/06/2023) and a 52-week-low of Rs 345.00 on (10/02/2023). During Q4FY23, the company recorded promoter shareholding of 35.82%, FIIs stake of 3.12%, DIIs stake of 14.18%, and public stake of 46.87%. As per the data of Trendlyne, promoters holding of Sudarshan Chemical Industries was flat at 35.82% in March 2023 quarter, FII/FPI shareholding grew up from 2.81% in December 2022 quarter to 3.12% in March 2023 quarter, mutual funds stake climbed from 12.40% to 12.29% and institutional investors shareholding grew up from 17.14% in Q3FY23 to 17.30% in Q4FY23.