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

Gothi Plascon (India) Ltd is a small-cap company having a market cap of 29.38 Cr and the company deals in the consumer discretionary sector. The organisation works with all types of property demands, and it has competence in a variety of markets, including commercial, industrial, and warehouse properties.

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%.

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