This stock is to be in focus tomorrow for 150% dividend with a yield of 3.84%


With a market worth of Rs. 511.49 crore, Manaksia Ltd. is a small-cap firm that operates in the industrial industry. The business trades and exports products made of steel, aluminium, and packaging. The firm has also established facilities for the production of secondary specification alloys, metal colour coated sheets and coils, and galvanised steel. For the financial year 2022-2023 the company has declared an interim dividend of 150% and for the purpose of the same 25th November 2022 has been set as the record date which makes the stock likely to be in focus tomorrow.

The company has said in a stock exchange filing that its Board of Directors has “Declared Interim Dividend @ 150% (i.e, Rs. 3.00/- per equity shares having face value of Rs. 2/- each) on the equity shares of the Company for the Financial Year 2022-2023. The Interim Dividend shall be paid on or before Friday, 9 December, 2022, to the equity shareholders of the Company, whose names appear on the register of members of the Company or in the records of the Depositories as beneficial owners of the equity shares as on Friday, 25th November, 2022, i.e., the Record Date fixed for the purpose.”

The firm reported net sales of 261.59 crore on a consolidated basis in Q2FY23 as opposed to 236.42 crore in Q2FY22, reflecting a YoY growth of 10.64%. The firm reported a net profit of Rs. 24.60 crore for the quarter that ended in September 2022 as opposed to Rs. 33.52 crore from the same quarter the previous year, a fall of 26.61% year-on-year. EBITDA dropped by 18.90% YoY to Rs. 45.61 crore in Q2FY23 from Rs. 56.24 crore reported in Q2FY22. Manaksia’s EPS dropped from Rs. 5.11 reported in the same period last year to Rs. 3.75 in Q2FY23.

On a standalone basis, the company has posted net sales of 20.53 crore in Q2FY23 compared to Rs. 20.11 crore posted in Q2FY22, representing a YoY growth of 2.08%. The firm reported a net profit of Rs. 0.65 crore for the quarter that ended in September 2022 as opposed to Rs. 1.13 crore from the same quarter the previous year, a YoY decline of 42.21%. EBITDA dropped to Rs. 0.84 crore in Q2FY23 vs Rs. 1.46 crore reported in Q2FY22, a YoY decline of 42.47%. From Rs. 0.17 reported in the same quarter the previous year, Manaksia’s EPS dropped to Rs. 0.10 in Q2FY23.

The shares of Manaksia Ltd closed today at 78.00 apiece, down by 1.33% from the previous close of 79.05. At the current market price, the dividend yield goes to 3.84%. In trade today the stock recorded a total volume of 221,996 shares compared to the 20-Day average volume of 71,290 shares. In the last 1 year, the stock has gained 26.93% and on a YTD basis, the stock has dropped 1.27% so far in 2022. On the NSE, the stock had touched a 52-week-high of 105.70 on (29-April-2022) and a 52-week-low of 57.30 on (20-December-2021), indicating that at the current market price the stock is trading 26.20% below the high and 36.12% above the low. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 74.93%, FIIs stake of 0.55%, and a public stake of 24.52%.

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