Penny stock hit 5% upper circuit as Board declares interim dividend

The company has said in a stock exchange filing that “Pursuant to Regulation 43 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015), it is hereby informed that the Board of Directors of Company have declared an Interim dividend of Rs.2/- (Rupee Two only] i.e. 20% per equity share of Rs. 10/- (subject to tax deducted at source, if any) each for the financial year 2022-2023. Further, as informed vide letter dated 05/01/2023, 24/01/2023 is the Record Date for determining eligibility of shareholders for payment of the said Interim Dividend, as declared by the Board. The dividend shall be paid/dispatched to the shareholders on or before 30 days from the date of declaration.”

In Q3FY23, the company reported net sales of ₹1.08 Cr compared to ₹1.05 Cr in Q3FY22. The company reported a fall in net profit from ₹0.67 Cr reported in the year-ago quarter to ₹0.62 Cr in the quarter ended in December 2022. Gothi Plascon EPS dropped to ₹0.60 per share in Q3FY23 compared to ₹0.66 reported in Q3FY22.

The shares of Gothi Plascon (India) closed today on the BSE at an upper circuit level of ₹28.80 apiece level, up by 4.92% from the previous close of ₹27.45. The stock recorded a total volume of 2,300 shares compared to the 20-Day average volume of 1,640 shares. The stock has produced a multibagger return of 106.30% over the past five years and a multibagger return of 290% during the past three years. The stock has lost 4.95% during the past year, but it has gained 30.32% YTD in 2023. The stock touched a 52-week-high of ₹31.75 on (19/01/2022) and a 52-week-low of ₹17.80 on (17/05/2022). For the quarter Q3FY23, the company posted a promoter shareholding of 73.39% and a public stake of 26.61%. At the current market price, the stock is trading at a dividend yield of 6.94%.