Bhansali Engg Polymers take a 12% dent as stock turns ex-dividend today

Shares of Bhansali Engg Polymers Ltd lost 12 percent in trade on June 9, as the stock turned ex-dividend on the day. At 12:30pm, it was trading 12.72 percent down at Rs 138.15 on the NSE.

Bhansali Engineering had announced a special dividend of Rs 14 and a final dividend of Re 1. The stock turned ex-dividend today and the dividends will be paid on July 19.

Management Commentary

“The operational revenue (net of GST) is Rs 1,36,255.66 lakhs and profit before tax (PBT) at Rs 19,479.24 lakh. After accounting for taxes of Rs 5,886.36 lakh, the profit from continuing operations is Rs 13,592.88 lakh, whereas the total comprehensive income is Rs 13,562.91 lakhs. During the fiscal, sales volume has been impressive and stood at 73,388 MTS as against 59,575 MTS for FY 2021-22, registering a growth of 23.19 percent. The higher sales volume was on account of optimum capacity utilisation of 96.71 percent i.e. 72,529 TPA of the rated capacity of 75,000 TPA of ABS and saleable SAN,” Chairman MC Gupta said in a recent corporate filing with the BSE.

Stock Performance

The Bhansali Engineering stock has given a return of 24.45 percent over the last six months, outperforming the Nifty50 benchmark index which has given a return of 0.71 percent in the same duration.

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