GHCL announces a high dividend; stock gains
The board of directors of GHCL Ltd has recommended and approved a dividend of Rs 5.50 per share for FY21.
As per the press release, the dividend will be paid on or after June 23, 2021, if approved by the members in the ensuing annual general meeting.
The company also announced its quarterly results for Q4FY21 with standalone revenue increasing by 12 per cent to Rs 821 crore from Rs 734 crore reported in Q4FY20. Net profit for Q4FY21 rose by 30 per cent to Rs 104 crore from Rs 80 crore posted in Q4FY20.
GHCL Limited is a diversified group with business footprint in chemicals, textiles, and consumer products segment. In chemicals, the company mainly manufactures soda ash (anhydrous sodium carbonate), which is a major raw material for detergents, glass industries, and sodium bicarbonate (baking soda) while its textiles operation is an integrated setup, which commences right from the spinning of fibre (yarn), weaving, dyeing, etc.
It manufactures and sells edible salt, industrial grade salt and markets jujube honey, spices & blended spices as part of its consumer products segment.
Based on the company’s diversified business segments, it has strong growth prospects.
On Thursday, the stock of GHCL was seen trading at Rs 239.80 per share, up by 1.98 per cent or Rs 4.65 per share. The scrip opened at Rs 246 per share and later, touched an intraday high of Rs 246.75 per share. The 52-week high is Rs 258 while its 52-week low is Rs 95.15 on BSE.