Rs 4/Share Dividend: Multibagger Stock Sets Record Date For 200% Dividend Payout, Scrip Gain 140% In 1 Year

Sanghvi Movers Ltd is a small cap capital goods company that recorded a market cap of Rs 2,473.48 Cr during Friday's closing session. According to International Cranes, the company is the sixth-largest in the world and the largest crane rental firm in both Asia and India. The company has declared 200% final dividend payout for FY23 and for the purpose of the same record date has been finalized.

"The Board of Directors of the Company at its meeting held on 24 May 2023 has recommended Final Dividend of Rs. 4/- per equity share of Rs. 2/- each (i.e. @ 200 percent) for the financial year 2022-2023, subject to the approval of the Members at the AGM. The Record Date has been fixed as Friday, 04 August 2023 to determine the list of Members entitled to receive the Final Dividend," said Sanghvi Movers in a stock exchange filing.

"Final Dividend, if declared by the Members of the Company at the AGM, will be paid on or after 25th August 2023 through various modes of payment such as Direct Credit/NEFT/RTGS/NEGS/Demand Draft, etc., as the case may be, to those Members whose names appear as Beneficial Owners as at the end of the business hours on 04 August 2023, in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of equity shares held in electronic form and whose names appear as Members in the Register of Members of the Company," informed Sanghvi Movers to stock exchanges.

The firm made a net income of Rs 131.52 Cr during Q4FY23, which was a rise of 0.09% YoY from Rs 131.40 Cr during Q4FY22. Its net profit jumped by 82.58% YoY to Rs 33.92 Cr in the March 2023 quarter from Rs 18.58 recorded in the March 2022 quarter. For the quarter that ended on March 31, 2023, the firm recorded an EPS of Rs. 7.84 as opposed to Rs. 4.29 for the quarter that ended on March 31, 2022. Its net income climbed from Rs 372.25 Cr in the year ended FY2022 to Rs 485.55 Cr in the year ended FY2023 or by 30.44% YoY. Its net profit climbed by 281.09% YoY to Rs 112.05 Cr in 12MFY23 from Rs 29.40 Cr in 12MFY22. The firm recorded a spike in earnings per share (EPS) for the fiscal year that ended on March 31, 2023, from Rs. 6.79 to Rs. 25.89.

On Friday, the shares of Sanghvi Movers closed on the BSE at Rs 571.40 apiece up by 0.09% from the previous close of Rs 570.90. The stock made a 52-week-high of Rs 597.75 on (19/07/2023) and a 52-week-low of Rs 205.10 on (02/11/2022). The stock has produced a multibagger return over the past five years of 202.49% and a multibagger return over the past three years of 718%. The stock's multibagger return for the last year was 137.19%, and its year-to-date (YTD) gain for 2023 is 71.77%. During Q1FY24, the company reported promoter shareholding of 47.25%, FIIs stake of 1.64%, DIIs stake of 1.73% and public stake of 49.39%. As per the shareholding of Sanghvi Movers for Q1FY24, ace investor Anil Kumar Goel held fully paid-up equity shares of 4,54,000 or 1.05% stake in the company.