1500 per cent dividend declared: Stocks hits fresh 52-week high mark on stellar results!
The stock has experienced significant buying activity, yielding returns of more than 24 per cent in the last 1 year.
Today, the shares of Divis Laboratories Limited soared by 2.84 per cent to reach a fresh 52-week high mark of Rs 4,387 on the BSE. Furthermore, the scrip witnessed a massive spurt in volume by more than 1.16 times. The company's current market capitalization standing at Rs 1,16,142.50 crore.
Stock performance:
On Tuesday, the stock opened at Rs 4250, with the previous closing being Rs 4254. The 52-week high and low are Rs 4,387 and Rs 3,300, respectively as per BSE.
Recent Development – Financial Highlights:
In the financial year 2023-24, Divi's Laboratories recorded a consolidated total income of Rs 8,184 crore, which is slightly higher than the previous year's income of Rs 8,112 crore. However, the Profit Before Tax (PBT) for the current year decreased to Rs 2,163 crore from Rs 2,369 crore in the previous year. Similarly, the net profit for the year stood at Rs 1,600 crore, down from the previous year's PAT of Rs 1,824 crore.
Despite the decrease in profits, the Board of Directors has proposed a dividend of Rs 30 per share of face value Rs 2 each i.e., 1,500 per cent for the financial year 2023-24.
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About the Company:
Established in 1990, Divis Laboratories Ltd specializes in the manufacturing and export of Active Pharmaceutical Ingredients (APIs), Intermediates, and Nutraceutical ingredients.
Divis Laboratories Ltd's product-wise breakdown reveals that APIs constitute 54 per cent of its portfolio, while Custom Synthesis accounts for 46 per cent.
Furthermore, in terms of location-wise distribution, Europe emerges as the primary market, representing 40.13 per cent of the company's operations. The USA follows closely behind at 28.87 per cent, with Asia Pacific comprising 13.63 per cent. India holds a significant share at 11.46 per cent.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 24 per cent in the last 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.