Multibagger stock rallies 104% in 6 months, Board declares dividend of ₹7

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With a market valuation of Rs. 8,412.67 Cr., Cochin Shipyard Ltd. is a mid-size company that operates in the industrial sector. One of India’s top shipbuilding and repair yards is Cochin Shipyard. One of India’s top 10 public sector undertakings, the corporation holds a Miniratna CPSE status. Shareholders need to be informed that the firm has released its Q2 results as well as a dividend of 7 per share.

The company has said in a stock exchange filing that its Board of Directors has “Declared an interim dividend of Rs. 7.00 per equity share of Rs. 10 each fully paid-up (70%) for the financial year 2022-23; and Fixed Tuesday, November 22, 2022 as the Record Date for the aforesaid interim dividend.”

On a consolidated basis, the company has declared a net sales of 683.18 crore in Q2FY23 compared to Rs. 696.14 crore posted in Q2FY22, representing a YoY fall of 1.86%. The company declared a net profit of Rs. 112.79 crore in Q2FY23 compared to Rs. 131.31 Cr posted in Q2FY22, representing a YoY fall of 14.1%. The company’s EPS stood at 8.57 apiece in Q2FY23 compared to 9.98 per share posted in the year-ago quarter.

On Friday the shares of Cochin Shipyard Ltd closed at 644.80 apiece, up by 9.90% from the previous close of 586.70. In its last trading session, the stock recorded a total volume of 5,405,172 shares compared to the 20-Day average volume of 2,332,735 shares. The stock has appreciated by 16.34% over the past five years and by 56.84% over the past three years. The stock has climbed 73.17% over the past year, and on a year-to-date basis, it has risen 81.43% in 2022.

The stock has produced a multibagger return of 104.57% during the past six months, and it has surged by 23.57% over the past month. The stock had touched a 52-week-high of 654.60 on (11-November-2022) and a 52-week-low of 280.75 on (08-March-2022), indicating that after making a fresh 1-year high on Monday the stock was seen trading 129.67% above the low. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 72.86%, FIIs stake of 3.68%, DIIs stake of 4.96% and a public stake of 18.48%.

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