Small Cap Chemicals Stock Declares Dividend, Shares Gain 184% YTD

Board of small cap stock operating in chemicals sector Ddev Plastiks Industries Ltd on November 12 approved interim dividend of Re 0.50 paise (Fifty paise only) each per fully paid up equity shares of Re. 1/- each (@50%). The company fixed November 22, 2023 as the record date. Current market price of Ddev Plastiks stock on BSE is Rs 213.50 per share with intraday fall of 1.91%. Ddev Plastiks shares offered its shareholders return of 184% year-to-date (YTD). Check details below:

Ddev Plastiks Declares Interim Dividend: As per the BSE filing of the company issued as on November 12, 2023, "pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors have at its meeting held on Sunday, the 12t day of November, 2023 approved the payment of Interim Dividend of Rs. 0.50p (Fifty paise Only) per full paid-up Equity Share of Re. 1/- each (@50%). The record date fixed for the purpose is 22nd November, 2023 and shall be paid within the statutory timeline i.e. 30 days from the date of declaration."

Ddev Plastiks Stock Performance & Return: Current market price of Ddev Pl astiks share on BSE is Rs 213.50 per share. Its 52-week high price is Rs 244.00 per share and 52-week low price is Rs 61.49 per share, respectively. The company has a market capitalisation of Rs 2209.23 crore. In last 1-year, Ddev Plastiks shares gained 182%, soared 104% in last 6-months, and gained 12% in last 3-months.

Ddev Plastiks Q2 Results: The company stated its revenue from Operations stood at Rs 6,423 million for Q2 FY24. The company declared its PAT at Rs 423 million, up 125.9% on YoY basis with margin of 6.5%. EBITDA stood at Rs 658 million, a growth of 78.9% on YoY basis with margin of 10.2%.

Narrindra Suranna, Chairman and Managing Director said, "Ddev Plastiks have continued its strong growth momentum in Q2 FY24 and delivered a revenue of Rs. 6,423 Mn on the back of higher volumes. During the quarter, your Company have achieved an EBITDA of Rs. 658 Mn, a growth of 79% on YoY basis with margin of 10.2%, owing to higher operational efficiencies and PAT of Rs. 423 Mn, a strong growth of 126% on YoY basis with margin of 6.5%. Despite the challenges due to decline in selling prices, our profitability remained robust."

Ddev Plastiks About: Ddev Plastiks Industries Limited is a leading polymer compounder manufacturer in India. The company recently demerger from the parent company Kkalpana Industries Limited. The group is regarded as the largest manufacturer of specialty compounds in India with an installed capacity of PVC compounds - 44,000 MT, Silane based compound - 96,600 MT, XLPE compound - 35,000 MT, PE & PP filled compound - 36,000 MT, Semicon compound - 10,900 MT for strippable and non-strippable applications, Halogen Free Flame Retardant (HFFR) Compound - 5,000 MT and Engineering Plastic Compounds - 14,500 MT.

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