Dividend: Small Cap Auto Ancillaries Stock To Consider In Oct, Soars 237% In 1-Yr

Board of small cap auto ancillaries stock, Ramkrishna Forgings Ltd announced on September 30, 2023 that it will declare unaudited standalone and consolidated financial results and 1st interim dividend on October 19, 2023. Ramkrishna Forgings shares offered shareholders return of 237% in last 1-year and 882% return in last 3-years. Earlier this year, it announced an interim dividend of Rs 0.5 for FY 22-23 and set May 9 as the record date. Check details below:

Ramkrishna Forgings To Announce Quarterly Results, Dividend On Oct 19: According to the BSE filing of the company dated September 30, "Please be informed that pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 19 October, 2023, inter-alia to:

a) Consider and Approve the Unaudited Standalone and Consolidated Financial Results of the Company for the Second Quarter and Half Year ended 30 September, 2023;

b) Consider declaration of 1st Interim Dividend, if any, to the Equity Shareholders of the Company for the Financial Year 2023-24."

Ramkrishna Forgings Approves Fund Raising: The board of directors also approved fund raising of up to Rs 1000 crores and it will also convene extra ordinary general meeting on Oct 28, 2023. The BSE filing dated September 30 stated, "Raising of funds up to Rs. 1,000 Crores (Rupees One Thousand Crores only) by way of issuance of equity shares through Qualified Institutional placement ("QIP"), in accordance with the applicable laws including the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) and the Companies Act, 2013, as amended, subject to approval from the Shareholders of the Company and the receipt of such regulatory/statutory approvals as may be required."

Ramkrishna Forgings Stock Outlook & Return: Last trading price of Ramkrishna Forgings share is Rs 643.40 per share with intraday gain of 0.10% on BSE. Its 52-week high price is Rs 752.80 per share and 52-week low price is Rs 188.45 per share, respectively. The mid cap stock has a market capitalisation of Rs 10, 287.29 crore. Ramkrishna Forgings stock doubled investors wealth in last 6 months as it offered 128% return in this span. Ramkrishna Forgings shares gained 143% YTD, soared 236% in last 1-year, offered return of 202% in last 2-years, soared 882% in last 3-years, and gave return of 436% in last 5-years. In last 10-years, Ramkrishna Forgings stock surged 5212%.

Ramkrishna Forgings Financials: The company earlier this year on July 23 announced a jump of 63% in its net profit at Rs 76.97 crore during the June quarter amid higher income as against Rs 47.26 crore net income it declared in April-June quarter of the preceding fiscal, as per the BSE filing. Total income also surged to Rs 835.95 crore from Rs 650.75 crore in the year-ago quarter, up 28%. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: "We are actively working towards reducing our debt burden, targeting a debt to EBITDA level of 1:1 by FY 2024-25. This will strengthen our financial position, reduce risks, and provide us with flexibility to pursue growth opportunities."

Ramkrishna Forgings About: Ramkrishna Forgings Limited was founded on 12th November 1981. It became a limited company on 25th May, 1995. It is a supplier to various sectors like automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining, both in India & overseas markets. It is also a critical safety item supplier for screw coupling, bolster suspension, side frame keys and draw gear assembly for railway coaches and wagon, according to its official website.

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