Sugar stock declares interim dividend, FIIs stake down in Q3, scrip trading at a dividend yield of 2.54%
3 min read . Updated: 05 Apr 2023, 06:46 PM IST
Premium- With a market valuation of ₹1,569 Cr, Dhampur Sugar Mills is a small-cap company that works in the Fast Moving Consumer Goods (FMCG) sector.
With a market valuation of ₹1,569 Cr, Dhampur Sugar Mills is a small-cap company that works in the Fast Moving Consumer Goods (FMCG) sector. The corporation, which was founded in 1933, is one of the leaders in organised sugar, chemical, and cogeneration markets in India. Dhampur Sugar Mills, one of India's top integrated sugarcane processing companies, crush over 23,500 MT of sugar per day and produce over 2,500 MT of sugar daily.
“This is to inform you that, pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015 as amended from time to time, the Board of Directors have fixed Tuesday, the 18th day of April, 2023 as Record Date for the purpose of payment of Interim Dividend at 60 % i.e. ₹6.00/- per Equity Share of ₹10 each (Aggregate of Interim Dividend of 50% i.e. Rs. 5.00 per Equity Share of Rs. 10 each and Special Dividend of 10% i.e. Rs. 1.00 Per Equity Share of Rs. 10 each of the Company on successful commissioning of new distillery project) declared by the Board of Directors in its meeting held on 3rd April, 2023 for the Financial Year 2022-23," said the Board of Directors of Dhampur Sugar Mills in a stock exchange filing.
Dhampur Sugar Mills has announced an equity dividend of 60.00% at a face value of ₹10 or ₹6 per share for the fiscal year that ended in March 2022, or FY22. The dividend yield at the current share price of ₹236.30 is 2.54%. The company has a solid track record of dividend declarations during the past five years. Since February 27, 2006, Dhampur Sugar Mills Ltd. has issued 16 dividends, according to Trendlyne statistics.
On a consolidated basis, the company recorded a net income of ₹544.05 Cr during the quarter ended December 2022 compared to ₹896.00 Cr recorded during the quarter ended December 2021. The company's net expenses reached ₹471.50 Cr during Q3FY23 compared to ₹780.93 Cr during Q3FY22 and its EBIT stood at ₹72.55 Cr as against ₹115.06 Cr posted in Q3FY22. Dhampur Sugar Mills said its net profit stood at ₹46.37 Cr during Q3FY23 compared to ₹76.02 Cr posted in Q3FY22 and its EPS reached ₹6.99 compared to ₹11.45 recorded during the same quarter of FY22.
The shares of Dhampur Sugar Mills closed today on the NSE at ₹236.30 apiece level, up by 2.67% from the previous close of ₹230.15. The stock recorded a total traded volume of 14,63,987 shares compared to the 20-Day average volume of 662,237 shares. The stock has appreciated 72.29% over the past five years, while it has dropped 58.28% over the past year. It dropped 4.81% YTD in 2023 while gaining 6% over the previous six months. The stock touched a 52-week-high of ₹584.50 on (06-Apr-2022) and a 52-week-low of ₹196.00 on (31-Oct-2022).
During Q3FY23, the company recorded a promoter shareholding of 49.09%, FIIs stake of 5.09%, DIIs stake of 0.51% and a public stake of 45.31%. As per the data of Trendlyne, promoters holding of Dhampur Sugar Mills was the same at 49.09% in December 2022 quarter, FII/FPI have trimmed holdings from 5.57% in September 2022 quarter to 5.09% in December 2022 quarter, number of FII/FPI investors was constant at 80 in December 2022 quarter, mutual funds holding was the same at 0.00% in December 2022 quarter, institutional investors have decreased holdings from 6.05% in Q2FY23 to 5.60% in Q3FY23.