Chemical stock declares dividend of ₹8, shares ended on a green note by 5%


With a market worth of Rs. 697.52 crore, Sukhjit Starch Chemicals Ltd. is a small-cap company that engages in the chemical industry. The company specialises in corn wet milling, producing 600,000 TPA of corn grind at four manufacturing facilities in India. In addition, the company produces a variety of by-products including Modified Starches, Dextrines, Liquid Glucose, HMS, Malto-Dextrin, Mono-Hydrate Dextrose, Anyhydrose Dextrose, and Sorbitol-70% Solution for a wide range of Industries.

The company has said today in a stock exchange filing that “The Board of Directors have, in their meeting held today, approved payment of an Interim Dividend of Rs. 8/- (Rs. Eight only) per equity share of face value of Rs. 10/- each (i.e. 80 %), for the financial year 2022-23. Record Date for payment of the said Interim Dividend has been fixed for 13/12/2022 (Tuesday). The said Interim Dividend shall be paid within a period of 30 days from the date of declaration to those shareholders of the Company whose names appear in the records of the Company, as on the said Record Date.”

In comparison to Q2FY22’s net sales of Rs. 276.30 crore, the firm recorded standalone net sales of Rs. 343.50 crore in Q2FY23, a YoY rise of 24%. The company’s net profit increased by 1.94% year-on-year to Rs. 18.52 crore in Q2FY23 from Rs. 18.17 Cr in Q2FY22. From Rs. 12.31 in September 2021 to Rs. 11.86 in September 2022, Sukhjit Starch’s earnings per share have declined.

The shares of Sukhjit Starch Chemicals closed today on the BSE at 446.50 apiece, up by 4.89% from the previous close of 425.70. The stock recorded a total volume of 3,503 shares compared to the 20-Day average volume of 7,843 shares. In the last 1 year, the stock has gained 2.45% and on a YTD basis, it has gained 3.80% so far in 2022. The stock had touched a 52-week-high of 617.00 on (19/04/2022) and a 52-week-low of 292.00 on (20/12/2021).

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