400 per cent jump in net profit in this multibagger stock; Board announced bonus shares!
From Rs 116 per share to Rs 469.75 per share, this company gave multibagger returns of 305 per cent in just 1 decade.
Kansai Nerolac Paints informed that The Board of Directors of the company has announced a bonus in the ratio 1:2 to the eligible shareholders. The company fixed the record date for bonus shares as Tuesday, July 04, 2023 wherein eligible shareholders will receive 1 New Equity Share of Rs 1 each for every 2 (Two) existing equity shares held.
Talking about the financials, the company reported amazing numbers in its Quarterly Results and annual results. The net sales increased by 13 per cent to Rs 1,734 crore and net profit skyrocketed by 400 per cent to Rs 96 in Q4FY23 over Q4FY22. In FY23, net sales increased by 19 per cent to Rs 7,543 crore and net profit increased by 37 per cent to Rs 468 crore compared to FY22.
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Kansai Nerolac Paints Ltd is principally engaged in the manufacturing of Paints and is a market leader in Industrial coatings. The company has been maintaining a healthy dividend payout of 40.30 per cent.
On Thursday, shares of Kansai Nerolac Paints zoomed 1.38 per cent to Rs 468 per share with an intraday high of Rs 469.75 per share and an intraday low of Rs 462.
From Rs 116 per share to Rs 469.75 per share, this company gave multibagger returns of 305 per cent in just 1 decade. Investors should keep an eye on this Mid-Cap stock under the radar.