Foseco India Ltd, a world leader in the supply of foundry consumables and solutions, saw its shares zoom as much as 11 percent in the early hours of Wednesday to reach a 5-year high of Rs 2,217.90. The scrip jumped after announcing its quarterly results and dividends.
The company follows the January-December cycle for the financial year. In the December quarter, the Foseco India reported total revenue of operations at Rs 105.7 Crores which saw an increase of 21 percent Year on Year from Rs 87.46 Crore. On a sequential basis, their revenues stood at Rs 102.54 Crore.
Their net profit in the quarter under review stood at Rs 12.25 Crore, an increase of over 50 percent YoY from Rs 8.12 Crore and 12 percent QoQ from Rs 10.93 Crore.
Along with its results, the Board of Directors of the company also announced the payment of dividends to its shareholders. The company shall pay a final dividend of 250% of its face value of Rs 10 amounting to Rs 25 along with a one-time special dividend of Rs 15 (150% of face value) per share.
Foseco India is a manufacturer of products used in the metallurgical industry. The products are additives and consumables designed to improve the physical properties and performance of castings.
In the past month, the stock has gained 13 percent and over a period of six months, the stock has jumped 20 percent. In a longer time frame, the stock has delivered a return of 69 percent in one year.
The company has a market capitalization of Rs 1,409 Crore and a dividend yield of 1.14 percent. In addition to that, the promoters of the company hold a 74.98 percent stake with zero shares pledged which has remained unchanged in the last five quarters.
Written by Anoushka Roy
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