Don’t miss action in this multibagger stock that has announced bonus shares and is likely to announce dividend!
The company has been maintaining a healthy dividend payout of 20.3 per cent.
Sirca Paints India Ltd informed that the Board has recommended the issue of bonus shares in the ratio of 1:1 i.e., 1 (One) Bonus equity share of Rs 10 each for every 1 (One) fully paid-up equity share of Rs. 10 each held by the members of the company as on the record date. The company fixed the record date for the bonus issue as Thursday, May 11, 2023.
Additionally, The Board of Directors of Sirca Paints India Limited ("Company") has scheduled a meeting to be held on Tuesday, May 16, 2023 to inter-alia transact the following businesses:
1) To Consider and approve the Standalone and Consolidated Audited Financial Results of the Company for the Quarter and financial year ended March 31, 2023 together with Auditor Report thereon
2) Recommendation of final dividend, if any, for the financial year ended March 31, 2023 and other business(s).
On Monday, shares of Sirca Paints India zoomed 0.78 per cent to Rs 621.15 per share with an intraday high of Rs 630 and a low of Rs 614.75. The stock has a 52-week high of Rs 800 and a 52-week low of Rs 575.65.
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Sirca Paints India Ltd is engaged in the business of manufacturing, selling and export of wood coatings and other decorative paints under the brand ‘Sirca’. According to the financials, the company has a market cap of Rs 1,702.22 crore. The company reported positive numbers in Quarterly Results and annual results.
Since the company's current debt as of March 2023 is only 18 lakh, it has almost completely eliminated its debt. Furthermore, the company has been maintaining a healthy dividend payout of 20.3 per cent.
The stock gave multibagger returns of 235.11 per cent in just 3 years. Investors should keep an eye on this multibagger small-cap stock.