2800 per cent dividend announced by the flagship company of KK Modi Group!
The stock has delivered a remarkable return of over 300 per cent in the past 3 years.
It stands as a preeminent entity in the Indian Fast-Moving Consumer Goods sector and serves as the flagship enterprise of the KK Modi Group. The company boasts an impressive portfolio of iconic cigarette brands, including Four Square, Red & White, and Cavanders. Additionally, Godfrey Phillips India holds an exclusive sourcing and supply agreement with Philip Morris International, allowing them to manufacture and distribute the globally renowned Marlboro brand within India.
Godfrey Phillips India is the second-best player after ITC in the cigarette industry boasting a market capitalization of Rs 20084.63 crore.
During the board meeting, a final dividend of 2800 per cent, amounting to Rs 56 per equity share of Rs 2 each, has been proposed for the financial year ending March 31, 2024. This proposal is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Once declared at the AGM, the dividend will be paid within 30 days of the declaration date. The specific payment date will be announced in due course.
Furthermore, as per Quarterly Results the company has reported stellar results in Q4 FY24, Godfrey Phillips posted a revenue of Rs 966 crore, compared to the revenue of Rs 796 crore. The company posted an operating profit of Rs 188 crore for the quarter, in contrast to an operating profit of Rs 152 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 215 crore representing a growth of around 46 per cent, compared to a net profit of Rs 147 crore in the same period last year.
Turning attention to the annual results in FY24, the company witnessed a surge in revenue by 24 per cent, reaching Rs 4420 crore. Additionally, the company reported a net profit of Rs 884 during the same period compared to Rs 690 crore last year in FY23.
Today, the company’s stock closed at Rs 3834 per share on the BSE. Additionally, the stock has delivered an impressive multibagger return of 326 per cent in the past three years.
Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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