Nilkamal Ltd board approves a big dividend

The board of directors of Nilkamal Limited have approved second interim dividend at the rate of Rs 10 per equity share, having the face value of Rs 10 each for FY19-20.

According to the company, the second interim dividend will be paid to all equity shareholders whose names appear in the registrar of members of the company as on March 21, 2020. The dividend is set to be paid on or after March 24, 2020.

For the third quarter of FY20, on a consolidated basis, the net sales grew by 0.75 per cent to Rs 583.29 crore from Rs 578.93 crore in Q3FY19. PBDT went up by 32.79 per cent to be Rs 64.29 crore in Q3FY20 as compared to Rs 48.41 crore in Q3FY19. Nilkamal Ltd gained a net profit of Rs 29.13 crore in Q3FY20, clocking a growth of 5.81 per cent from the net profit of Rs 27.53 crore gained in Q3FY19.

Nilkamal Limited is a plastic products manufacturer based in Mumbai, India. It is one of the world’s largest manufacturer of moulded furniture and also one of Asia's largest processor of plastic moulded products. The company’s product range consists mainly of custom plastic mouldings, plastic furniture, crates and containers.

On Monday, the stock of the company closed at Rs 1,202.80, down by 4.33 per cent or Rs 54.50 per share. The 52-week high is Rs 1,544.15 and 52-week low is Rs 890.45 on BSE.