The shares of Vaibhav Global Ltd zoomed 8.17% on Friday’s early trades to reach an intraday high of ₹ 370.00 apiece on the National Stock Exchange (NSE). This happened after the company reported its quarterly results and declared a dividend. Its shares were trading at ₹ 362.30 apiece, up 5.92% at 01:44 PM on Friday.
Vaibhav Global has a niche business in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world – the US and the UK.
September quarter (Q2FY23) result
The company’s net sales rose 1.81% from ₹ 634.79 crores in September 2021 to ₹ 646.26 crores in September 2022. However, its quarterly net profit was down 45.65% from ₹ 42.18 crores in September 2021 to ₹ 22.93 crores in September 2022.
Dividend
The company’s board on October 27, 2022, declared a second interim dividend of ₹ 1.50 per equity share (75% of the face value of ₹ 2) for the fiscal year 2022-23. Further, it has fixed Saturday, November 05, 2022, as the record date for the said dividend. It said that the dividend will be paid within 30 days from the date of declaration.
Multibagger
Vaibhav Global Ltd has given multibagger returns of 176.99% in the past five years. Therefore, if an investor would have invested ₹ 1 lakh in the shares of the company five years ago, the value of their holdings would have been ₹ 2.76 lakhs today!
Written by Simran Bafna
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
