1,250 per cent dividend: This small-cap stock will trade ex-dividend tomorrow! Do you own it?
The company boasts a return on equity exceeding 20 per cent, alongside an impressive earnings per share (EPS) of Rs 50.
Gulf Oil Lubricants India Ltd, a manufacturer of lubricants in the Small-Cap category, is likely to attract attention due to its upcoming ex-dividend date on August 25, 2023. The company's board of directors has proposed a final dividend of Rs 25 (1,250 per cent) per equity share with a face value of Rs 2 each for the financial year ended on March 31, 2023.
Over the last month, the shares have already recorded a significant rally of over 28 per cent, reaching a 52-week high of Rs 644 per share on the BSE in recent trading sessions.
Taking into account the quarterly performance, on a consolidated basis, it reported a notable growth of 14.09 per cent from Rs 706.45 crore registered in Q1FY23, recording total revenue of Rs 811.71 crore in Q1FY24. It has reported operating profit growth of 13.53 per cent. Compared to the same quarter last year, the net profit for the first quarter of FY24 climbed 23.15 per cent, from Rs 55.23 crore to Rs 68.02 crore.
The company boasts a return on equity (RoE) exceeding 20 per cent, alongside an impressive earnings per share (EPS) of Rs 50. Moreover, the stock is currently trading at a comparatively lower price-to-earnings (PE) ratio in comparison to both its competitors and the industry average.
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Gulf Oil Lubricants India Ltd, a distinguished entity under the Hinduja Group, holds a leading position within the Indian lubricants industry. The company has established collaborations with top-tier OEMs and B2B clients, including Ashok Leyland, Mahindra, Swaraj Volvo Penta, MAN, Bharat Benz Whitmore and Bajaj.
Disclaimer: The article is for informational purposes only and not investment advice.