Specialty Chemical stock declares highest ever dividend of ₹17.50 per share: Do you own?

During today's closing session, Paushak, a small cap company, recorded a market cap of ₹2,251.24 Cr. The largest phosgene-based specialty chemical firm in India, Paushak Ltd., specialises in the production of isocyanates, chloroformates, carbamoyl chlorides, carbamates, and protecting agents. As a result of the corporation declaring its highest-ever dividend of 175%, the stock closed the day higher. 

The Board of Directors have “Recommended a dividend of Rs. 17.50/- (175%) per Equity Share having face value of Rs. 10/- each, subject to approval of the Shareholders at the ensuing Annual General Meeting ('AGM'),” said Paushak in a stock exchange filing today.

For the fiscal year that ended in March 2022, or FY22, Paushak announced a 120% equity dividend or ₹12 per share. The company has a solid track record of dividend declarations during the past five years. Paushak Ltd. has issued 14 dividends since July 16, 2009, according to data from Trendlyne.

The company recorded revenue from operations of Rs 56.46 Cr during Q4FY23 as compared to ₹52.62 Cr during Q4FY22. The company said its net income reached ₹58.88 Cr during the quarter ended March 2023, up by 10.40% YoY from ₹53.33 Cr recorded during the year-ago quarter.

The company said its net expenses stood at ₹40.18 Cr during Q4FY23 as against ₹35.55 Cr reported during Q4FY22. Paushak said its net profit stood at ₹14.35 Cr during Q4FY23 up by 8.54% YoY from ₹13.22 Cr during the year-ago quarter.

The EPS of Paushak stood at ₹46.55 during Q4FY23 as against ₹42.90 during Q4FY22.

The shares of Paushak closed today on the BSE at ₹7304.20 apiece up by 0.56% from the previous close of ₹7263.30. The stock touched a 52-week-high of ₹11,320.00 on (05/05/2022) and a 52-week-low of ₹6,180.05 on (31/03/2023). During Q4FY23 the company reported a promoter shareholding of 66.97%, FIIs stake of 0.01%, and a public stake of 33.01%.