Multibagger dividend stock declares 1:5 stock split after 2000% rally in four years

Dividend stock 2024: Agarwal Industrial Corporation shares are one of the multibagger stocks that have delivered stellar returns in the post-COVID rally. This small-cap stock has risen from around ₹60 to ₹1240 apiece on the NSE in the last four years, registering around a 2,000 percent rally. The small-cap stock will trade ex-dividend on 6th September 2024 to finalize the finalizing of eligible shareholders for the payment of ₹3 per share final dividend in the financial year 2023-24.

Meanwhile, the board of directors of this multibagger stock has approved a stock split in a 1:5 ratio. This means one company stock with a face value of ₹10 per equity share will be subdivided into five equal shares having a face value of ₹2 per share.

Agarwal Industrial Corporation stock split 2024

The dividend stock declared a stock split in a 1:5 ratio, saying, "The Board considered and approved splitting / sub-division of the Equity Shares of the Company of nominal value of ₹10 (Rupees Ten) each fully paid up into ₹2.00 (Rupees Two) each fully paid up by the provisions of the Companies Act 2013 and Rules made thereunder and SEBI( LODR) Regulations 2015 as amended and Alteration of MOA and AOA accordingly, and further subject to consent/ approval of the Members of the Company."

Agarwal Industrial Corporation Q1FY25 results

For Q1FY25, the Company reported a 12.69% year-on-year (YoY) jump & consolidated revenue of ₹709.24 crores. EBITDA (earnings before interest, taxes, depreciation, and amortization) saw a massive increase of 46.53% at ₹61.71 Crore. PAT (Profit after tax) stood at ₹39.00 crore, with a significant increase of 41.44%. The Company has reported volume growth of 26.60% & highest ever 1st quarter volume of 170,478.36 MT. The Board of Directors have approved a dividend of Rs. 3 per Equity Share of the face value of Rs. 10/- for FY23-24.

The Company is the most significant bitumen player in India's private sector and functions as an Infrastructure Ancillary for the transport and logistics segments. It also provides logistics for bulk bitumen and LPG. The Company has seven manufacturing facilities, a portfolio of more than 20 products, and a fleet of 10 vessels with a capacity of around 1,02,049 MT.

The Union Budget 2023-24 laid a strong foundation for infrastructure development with a total proposed expenditure of ₹45,03,097 crore. The interim budget has allocated a staggering ₹2,72,000 crore for the Ministry of Road Transport and Highways, a significant increase from the previous year.

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