Hidden Gem: Shares of this manufacturing company soar 9 per cent on outstanding results, declares stellar dividend!

From Rs 472.92 per share to Rs 1,739.55 per share, the stock gave multibagger returns of 267.83 per cent in just 3 years.

Astral Ltd, a pioneer in manufacturing CPVC pipes & fittings announced the financial results for the Quarter and Year ended March 31, 2023. Details Below:  

Quarterly Results: The net sales increased by 8.31 per cent and the net profit increased by 42.46 per cent with EPS of Rs 7.66 in Q4FY23 compared to Q4FY22.  

Annual Results: The net sales increased by 17.40 per cent with EPS of Rs 17 in FY23 compared to FY22. The company reported a net profit of Rs 474 crore in FY23 compared to a net profit of Rs 492.30 in FY22, down by 3.72 per cent.   

Additionally, the company also announced a dividend of Rs 2.25 per share having a face value of Rs 1 each. Previously, the company announced bonus shares in the ratio of 1:3 with an ex-bonus date of March 14, 2023.  

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On Friday, shares of Astral Ltd zoomed 9.05 per cent to Rs 1,739.55 per share from its previous closing of Rs 1,594.70. At the closing bell, shares of the company ended the day in green, up 5.84 per cent to Rs 1,687.85 per share. The shares of the company saw a spurt in volume by more than 6 times on BSE.  

Astral Poly Technik Ltd has a market cap of Rs 45,337.60 crore. It is engaged in manufacturing pro-India plumbing and drainage systems in the country.   

The stock has a 52-week high of Rs 1,990.50 and a 52-week low of Rs 1,188. From Rs 472.92 per share to Rs 1,739.55 per share, the stock gave multibagger returns of 267.83 per cent in just 3 years. Investors should keep an eye on this large-cap stock.