Vinati Organics Q4 earnings: Specialty Chemical stock logs 14% jump in Q4 PAT to ₹115 Cr, Board declares 700% dividend

A mid size firm, Vinati Organics has a market valuation of ₹19,418.10 Cr. One of the largest manufacturers of organic and specialty chemical intermediates is Vinati Organics Limited (VOL).

The Board of Directors “Recommended a final dividend of ₹7/- per equity share of the face value of ₹1/- each (700%) for the financial year ended March 31, 2023, which will be paid/dispatched to the eligible shareholders of the Company registered in the Register of Members of the Company as on the record date to be decided, within 30 days from the conclusion of the 34th Annual General Meeting, subject to the approval of the Shareholders,” said Vinati Organics in a stock exchange filing on Friday.

The company has reported a total income of Rs.520.38 crores during the quarter ended March 31, 2023 as compared to Rs.501.21 crores during the quarter ended March 31, 2022, up by 3.82% YoY. During Q4FY23, the company recorded a net profit of ₹115.37 Cr up by 14.12% YoY from ₹101.09 Cr during Q4FY22. The company’s EPS reached ₹11.22 during the quarter under review up by 14.02% YoY from ₹9.84 in the year-ago quarter.

During the financial year ended March 2023 or FY23, the net income of Vinati Organics reached ₹2157.13 Cr compared to ₹1676.42 Cr in FY22, up by 28.67% YoY. Its net profit stood at ₹457.97 Cr in 12MFY23 up by 32.13% YoY from ₹346.61 Cr in 12MFY22. Vinati Organic said its EPS surged 32.15% YoY from ₹33.72 to ₹44.56.

Commenting on the result, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Average Q4FY23 results has not helped Vinati Organics stock price move up with strong resistance at 1970 on the Daily charts. Overall, however, Vinati Organics’ operating margins have improved slightly from last year and an excellent balance sheet makes it a strong buy on a dip near Daily support of 1825-1860 for better returns in the coming weeks.”

The shares of Vinati Organics closed today on the NSE at ₹1,890.90 apiece, down by 2.83% from the previous close of ₹1,945.95. The stock touched a 52-week-high of ₹2,377.00 on (12-Sep-2022) and a 52-week-low of ₹1,692.55 on (21-Mar-2023).

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