Powerhouse Performance: Multibagger stock reveals strong results
The stock has witnessed significant buying activity as it has given multibagger returns of more than 150 per cent in just 2 years
Established in 1962, JK Paper is the leading player in office papers, coated papers and packaging boards. It is one of the most respected paper companies today. On Wednesday, shares of JK Paper surged 1 per cent to record an intraday high of Rs 379 apiece on BSE.
The company has recently announced its highest-ever consolidated turnover of Rs 6,772.17 crore, marking a remarkable growth of 60 per cent compared to the previous fiscal year. The company's significant progress is evident in its financial performance for the fiscal year that ended in March 2023 (FY 2022-23), with impressive increases across key indicators.
During this period, JK Paper Ltd. achieved substantial growth in EBITDA, which amounted to Rs. 2,184.45 crore, reflecting a notable surge of 95 per cent compared to the preceding fiscal year. Additionally, the company's Profit after Tax (PAT) reached Rs. 1,195.79 crore, showcasing an impressive growth of 120 per cent over the same period.
For the fourth quarter ending in March 2023 (Q4), JK Paper Ltd. reported a consolidated turnover of Rs 1,806.99 crore, exhibiting a commendable growth rate of 26 per cent compared to the corresponding quarter in the previous financial year (March 2022). The company's EBITDA for the quarter stood at Rs 524.74 crore, representing a substantial increase of 47 per cent. Moreover, the Profit after Tax (PAT) for Q4 amounted to Rs 280.26 crore, demonstrating an outstanding growth rate of 65 per cent compared to the previous fiscal year.
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The Board of Directors has proposed a final dividend of Rs 4 per share (40 per cent) on the Equity Share Capital for the financial year that concluded on March 31, 2023. This dividend is in addition to the interim dividend of Rs 1 (40 per cent per equity share) declared and paid during the mentioned financial year.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 150 per cent in just 2 years. Keep a close eye on this trending multibagger stock.