Small cap stock declares a whopping dividend of ₹30, net profit up 51% in Q3
With a market valuation of ₹4,735.87 Cr, Polyplex Corporation Limited is a small-cap company that engages in the industrial industry. The capacity of polyester (PET) film produced by Polyplex Corporation Ltd. (Polyplex) is the seventh-largest in the world. One of the top producers of PET film, Polyplex has a presence all over the world, delivering to more than 2650 customers in 75 nations in Europe, the Americas, the Indian subcontinent, the Far East, Asia Pacific, and the Middle East.
The company has said today in a stock exchange filing that the Board of Directors has approved “Declaration and payment of Second Interim Dividend (Special) for the Financial Year 2022-23 @ Rs. 30 per share of the face value of Rs. 10/- each.” Polyplex Corporation has fixed February 24,2023 as the record date for the purpose of payment of aforesaid dividend.
On a standalone basis, the company reported revenue from operations of ₹369.55 Cr in Q3FY23 compared to ₹467.28 Cr in Q3FY22, representing a YoY fall of 20.01% YoY. The company’s net expenses reached ₹374.99 Cr in the quarter ended December 2022 compared to ₹400 Cr in the year-ago quarter. The net profit of Polyplex Corporation reached ₹147.51 Cr in Q3FY23 compared to ₹97.12 Cr in the year-ago quarter, representing a growth of 51%. The standalone EPS of Polyplex Corporation reached ₹46.99 in Q3FY23 compared to ₹30.94 in Q3FY22.
On a consolidated basis, the company’s net sales or revenue from operations reached ₹1863.34 crore in Q3FY23 compared to ₹1751.01 crore in Q3FY22, representing a growth of 6.41% YoY. The company’s net expenses reached ₹1844.9 crore in the quarter ended December 2022 against ₹1475.08 crore in the year-ago quarter. The consolidated net profit of the company reached ₹38.67 crore in Q3FY23 compared to ₹175.46 crore in the year-ago quarter, representing a fall of 77.96% YoY. The EPS of Polyplex Corporation reached ₹12.32 in Q3FY23 compared to ₹55.89 in Q3FY22.
The shares of Polyplex Corporation Limited closed today on the NSE at ₹1,516 apiece, down by 0.69% from the previous close of ₹1,526.60.
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