Multibagger Stock Sets Record Date For Dividend, Gains Over 500% In 3 Years

Small-cap firm Kirloskar Ferrous Industries operates in the metal industry. One of the top companies in the pig iron and iron casting industries is Kirloskar Ferrous Industries Limited. The company has recommended a final dividend of 60 percent for FY23 and for the purpose of the same record date has been finalized.

"The Board of Directors at its meeting held on 12 May 2023 has recommended the Final Dividend of Rs 3 per equity share of Rs 5 each (i.e. 60 percent) for the financial year 2022-2023 for the approval of the Members at the AGM. The Record Date has been fixed as Friday, 14 July 2023 to ascertain the list of Members entitled to receive the Final Dividend," said Kirloskar Ferrous Industries in a stock exchange filing.

During Q4FY23, the company reported a net income of Rs 1577.16 Cr, up by 51.13% YoY from Rs 1043.58 Cr in Q4FY22. Its net profit stood at Rs 88.22 Cr during the quarter ended March 2023 up by 1,307.02% YoY from Rs 6.27 Cr recorded during the March 2022 quarter. In the year ended FY2023, its net income reached Rs 6466.78 Cr, up by 71.98% YoY from Rs 3760.21 Cr in the year ended FY2022. Kirloskar Ferrous Industries said its net profit was Rs 395.10 Cr in 12MFY23 up by 13.83% YoY from Rs 347.11 Cr recorded in 12MFY22.

On Tuesday, the shares of Kirloskar Ferrous Industries opened on the BSE at Rs 462.00 apiece. Thes stock made a 52-week-high of Rs 508.50 on (14/06/2023) and a 52-week-low of Rs 185.60 on (04/07/2022), indicating that at the current market price of Rs 454.80 the stock is trading 145.04% above the 1 year low and 10.56% below the 1 year high. The stock price climbed from Rs 60.95 to the current market price during the last five years, resulting in a multibagger return of 649%, and from Rs 73.35 to the current market price over the past three years, resulting in a multibagger return of 545%. The stock price jumped from Rs 189 to the current market price during the course of the last year, recording a multibagger return of 140%. On a YTD basis, the scrip has returned 25.55% so far in 2023.

During Q4FY23, the company reported promoter shareholding of 56.63%, FIIs stake of 1.61%, DIIs stake of 10.55% and public stake of 31.22%.