Double Dhamaka: Board announces 1:1 bonus share & Rs 3.30/share final dividend; stock hit back-to-back upper circuits & 52-week highs!

The stock is up by 57 per cent from its 52-week low of Rs 171.20 per share and gave multibagger returns of 375 per cent in 3 years.

On Saturday, shares of Siddhika Coatings Ltd were locked in a 5 per cent upper circuit to Rs 269 per share from its previous closing of Rs 256.20. The stock also made a fresh new 52-week high is Rs 269 while its 52-week low is Rs 171.20.  In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

The Board of Directors of the company has announced bonus shares in the ratio 1:1 i.e., 1 equity share of Rs 10 each for every 1 equity share of Rs 10 each held by the shareholders of the company as on the record date fixed by the company (will be announced in due course). Additionally, the Board has announced a final dividend of Rs 3.30 per share of Rs 10 each for the Financial Year 2023-24 (record date will be announced in due course).  

According to Quarterly Results, the net sales increased by 12 per cent to Rs 21.36 crore and net profit increased by 21 per cent to Rs 2.72 crore in Q4FY24 over Q4FY23. In its annual results, the net sales increased by 13.5 per cent to Rs 38.07 crore and net profit increased by 33.4 per cent to Rs 5.03 crore in FY24 over FY23. 

Also Read: Rs 81,784 crore order book: Keep an eye on this President of India backed-multibagger aerospace & defence stock; PAT zooms over 50 per cent

Siddhika Coatings Ltd, founded in 2010, specializes in architectural coatings and supplies. They sell a variety of paints and enamels, but their main focus is on textured paints. They are the authorized applicator and importer for SK Kaken Ltd, a Japanese company, and use their products for interior and exterior building surfaces. Siddhika Coatings Ltd can also prepare and coat these surfaces themselves using organic and inorganic architectural textured pigments and technical-grade functional coatings.

The company has a market cap of Rs 83.11 crore and has been maintaining a healthy dividend payout of 31.8 per cent. The shares of the company have a PE of 18.7x, an ROE of 18 per cent and an ROCE of 25 per cent. The stock is up by 57 per cent from its 52-week low of Rs 171.20 per share and gave multibagger returns of 375 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.