Small-cap seed producer reports 250 per cent jump in profits, declares Rs 5 interim dividend!

The company’s board has approved an interim dividend of Rs 5 per equity share.

Kaveri Seed, a leading seed company in India, has posted strong financial results for the second quarter of FY2024.

• The company's revenue stood at Rs 171.32 crore, up 2.5 per cent from Rs 167.08 crore in the same quarter of the previous year.
• EBITDA came in at Rs 11.3 crore, a significant increase of 32 per cent from Rs 8.5 crore in the same quarter of the previous year.
• EBITDA margin improved to 6.60 per cent, an increase of 230 basis points.
• PAT came in at Rs 13.97 crore, a substantial increase of 255.86 per cent from Rs 5.46 crore in the same quarter of the previous year.

The company's strong performance is attributed to a number of factors, including:

• A strong domestic market for seeds
• Increased exports to Bangladesh, Vietnam, Cambodia, Nepal, and the Middle East
• Opportunities for growth in East Africa and the Philippines

The company's board has approved the payment of an interim dividend of Rs 5 per equity share. The dividend will be paid on or before November 30, 2023, and the Record date is set to be on November 20, 2023.

Among the company's FII shareholders is the prestigious Massachusetts Institute of Technology (MIT), whose shareholding has increased year-on-year to 5.53%. This vote of confidence from a global leader in innovation further underscores Kaveri Seed's potential.

Kaveri Seed Company Ltd is a well-positioned company with a strong track record of growth. The company's focus on exports and opportunities for growth in new markets is expected to drive further growth in the years to come.

Disclaimer: The article is for informational purposes only and not investment advice.