Multibase India, a small-cap company, has declared an interim dividend of ₹53 per share for the financial year 2024-25. This is 530% of its face value of ₹10 per share.
Following the announcement, the company’s stock surged nearly 20% on Tuesday. However, trading is closed today, Wednesday, due to the Maharashtra Assembly Elections 2024.
Dividend Details and Shareholder Eligibility
The declared dividend amounts to ₹53 per share with a face value of ₹10 each. The record date to identify eligible shareholders is November 27.
Investors holding shares before November 27 will qualify for this dividend, while those purchasing shares afterward will not.
Previously, Multibase India announced dividends of ₹3 in August 2024, ₹2 in September 2023, ₹1 in September 2022, and ₹2 in September 2021.
Strong Financial Results Fuel Confidence
The company’s financial performance for the quarter ending September 2024 has bolstered investor confidence.
Net profit: ₹4.29 crore, up 113.43% from ₹2.01 crore in the same quarter last year.
Revenue: ₹18.42 crore, an increase of 13.28% from ₹16.26 crore year-over-year.
Established in 1991 as Synergy Polymers Limited, the company specializes in thermoplastic elastomers and silicone-based products.
It was rebranded to Synergy Multibase Limited in 2002 and later to Multibase India Limited in 2007.
Stock Performance: A Multibagger Story
Multibase India has delivered impressive returns, making it a multibagger stock.
Annual growth: Over 109% in the past year.
Year-to-date growth: 102.3%.
Monthly performance: Despite a 4% decline in October, the stock surged by 79% in November.
On November 19, the stock reached a 52-week high of ₹472 and closed at ₹467.25.
Compared to its 52-week low of ₹215.15 in November last year, the stock has gained over 117%.
Stock Performance and Growth in 2024
Multibase India has been a strong performer in the stock market, providing excellent returns.
Over the last year, its stock price has increased by more than 109%, and it has risen by 102.3% year-to-date.
Despite a small 4% drop in October, the stock has surged by nearly 79% in November. On November 19, it reached a 52-week high of ₹472 and closed at ₹467.25.
Compared to its 52-week low of ₹215.15 from last November, the stock has gained over 117%.
