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Dividend: Multibagger stock posts strong earning in H1 of current fiscal

The second quarter Q2 cheered up the economy and it is already visible in industrial stocks.

Nitin Kumar Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: December 14, 2023 9:14 IST
stock market
Image Source : FREEPIK A man is checking stock market data on his tablet.

Investment and industrial activities are the key driving factors for India's growth story. The country's industrial output has seen remarkable growth, helped by favourable government policies.

The second quarter Q2 cheered up the economy and it is already visible in industrial stocks. One of the major industrial stocks, GM Polyplast has also seen one side rally in the last few years.

According to BSE website, GM Polyplast which is into the plastic products industrial has given multibagger returns of 650 per cent in two years to investors.

For the half year that ended on September 30, 2023 (H1FY23), as per a stock exchange filing, it reported an EBITDA of Rs 716.98 lakh, up from Rs 393.65 lakh in the first six months of last financial year. This shows an EBITDA increase of 82.14 per cent.

The PAT in H1FY24 doubled on YoY and PAT margins climbed by 591 basis points, according to the filing.

The filing said that 5 per cent dividend on each equity shares of Rs 10 face value was distributed by the company on December 5. Besides, the board had also approved increasing the authorised capital from Rs 15 crore to Rs 25 crore.

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