This small-cap multibagger stock which delivered 196 per cent net profit, announced 1:1 bonus and 600 per cent dividend

Manufacturer of air conditioners, announced a 196 per cent increase in net profit for the three months ended March 31, 2023, at Rs 225 crore.

Blue Star, a manufacturer of air conditioners, announced a 196 per cent increase in net profit for the three months ended March 31, 2023, at Rs 225 crore. In the same period last year, it reported a net profit of Rs.76 crore.  

According to a stock exchange statement, the business was able to successfully complete the sale of a land parcel at Thane, earning a gain of Rs 170.81 crore (net of tax, Rs 139.24 crore), which is recorded as exceptional income for Q4FY23. When compared to the same period a year prior, the company's revenue from operations increased by 16.4 per cent to Rs 2,624 crore for the quarter ended March 31, 2023.  

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For FY23, the Board of Directors has recommended both, a 1:1 equity bonus issuance to the shareholders as well as a dividend of Rs 12 per equity share with a face value of Rs 2. For the fiscal year that concluded on March 31, 2023, the company's board has also recommended a final dividend of Rs 12 per equity share. The dividend post bonus for FY23 will be revised to Rs 6 per equity share with a face value of Rs 2 when the proposed bonus issuance is approved.  

Investors should keep this stock under radar for the upcoming sessions.