Multibagger from 52-week low; Board announced stock split and impressive dividend
Shares of this company have gained more than 100 per cent in the last one year.
Ion Exchange (India) Limited informed in the exchange filing that the company’s board has approved a sub-division/split of the face value of the equity shares of the company from the existing Rs.10 (Rupees Ten only) per equity share to Rs.1.00 (Rupee One Only) per equity share. The board of the company has also approved a dividend of Rs 12.50 per share (125 per cent) with a face value of Rs 10 each on equity shares for the financial year ended March 31, 2023.
In Q4FY23, the revenue of the company stood at Rs 647.48 crore which grew by 30.45 per cent YoY. The operating profit of the company stood at Rs 111.86, with a slight decline of 3.72 per cent YoY, and the PAT of the company declined by 2.78 per cent YoY, staying at Rs 81.07 crore.
Furthermore, Ion Exchange (India) Limited has delivered multibagger returns to its shareholders. During this period, shares of Ion Exchange (India) Limited surged from Rs 710.55 on June 05, 2020, to Rs 3759.90 on May 26, 2023, an increase of about 429 per cent in a three-year holding period.
Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination, etc.
DSIJ offers a service 'Large Rhino' with recommendations for Large-Cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here