Multibagger stock Vinyl Chemicals declares dividend of ₹10, scrip up over 650% in 3 years

Small-cap firm Vinyl Chemicals (India), which operates in the chemical industry, released its Q4 results. In its present operations, the company trades chemicals, specifically Vinyl Acetate Monomer (VAM).

“Out of Current Year's profit, the Board recommended payment of Total Dividend of Rs. 10/- per equity share of Re.1/- comprising of Normal Dividend of Rs.5/- per equity share and a Special Dividend of Rs.5/- per equity share (previous year Rs. 10/- per equity share comprising of Normal Dividend of Rs. 5/- per equity share and a Special Dividend of Rs.5/- per equity share) aggregating to Rs. 18,33,71,110/- (Previous Year Rs. 18,33,71,110) on 1,83,37,111 equity share of Re.1/- each. Subject to the approval of the shareholders at the 37th Annual General Meeting (AGM), the above dividend will be paid to the eligible shareholders, whose names appear in the Register of Members of the Company on the date of AGM to be held on 8th August, 2023, on or after 14th August, 2023. In respect of shares held in electronic form the dividend will be payable on the basis of beneficial ownership as on 26th July, 2023 as may be furnished by the depositories to the Company,” said Vinyl Chemicals in a stock exchange filing.

During Q4FY23, the company recorded revenue from operations of ₹106.93 Cr, down by 11.26% YoY from Rs 120.5 Cr during Q4FY22. The company’s net expenses stood at ₹98.38 Cr during the quarter under review as against ₹104.65 Cr during the year-ago quarter. 

Vinyl Chemicals said its net profit stood at Rs 7.3 Cr during the quarter ended March 2023, down by 49.68% YoY from ₹14.51 Cr during Q4FY22. The EPS of the company stood at ₹3.99 during Q4FY23 as against ₹7.93 stood in the same quarter of FY22.

The shares of Vinyl Chemicals (India) were seen trading at ₹486 apiece with a downside gap of 7.18% on the BSE. In the last 5 years, the stock has gained over 270% and in the last 3 years, it has gained over 650%. In the last 1 year the stock has gained 65.59% and on a YTD basis, it has fallen 5.68% so far in 2023.