Buzzing stock alert! This fertiliser stock gains more than 200 per cent in last one year
On Friday, the shares of Deepak Fertilisers & Petrochemicals zoomed around 6 per cent just a few minutes before the markets close, making a fresh 52-week high.
Making a buzz in the last few minutes of Friday's trading session, the shares of Deepak Fertilisers & Petrochemicals took a big leap after the company announced its Q4FY21 results and also, approved a dividend for FY21.
The company's board of directors approved the payment of a dividend of Rs 7.50 per share of Rs 10 each on equity shares, which will further be paid to shareholders after receiving the necessary approvals at its annual general meeting (AGM), scheduled to be held soon.
For Q4FY21, Deepak Fertilisers & Petrochemicals reported a significant jump in its consolidated net profit by 415 per cent to be Rs 116 crore compared to the net profit of Rs 23 crore reported in Q4FY20.
As global speciality chemical value chains continue to move from China to India boosting Nitric Acid demand & prices in India, the company's chemicals segment saw Q4FY21 revenue increase by 15 per cent to Rs 870 crore. Q4FY21 revenue for fertiliser segment increased by 32 per cent to Rs 702 crore while Bensulf sales volume increased by 94 per cent during the same period, primarily due to differentiated super-fast Bensulf launched in Q1FY21.
On a YTD basis, the company's scrip is up by nearly 94 per cent while in the last one year, it has jumped by around 208 per cent.
On Friday, the shares of Deepak Fertilisers & Petrochemicals closed at Rs 307.05 per share, up by 5.66 per cent or Rs 16.45 per share.