Multibase India, a small-cap stock, 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.
The announcement caused the company’s shares to rise nearly 20% on Tuesday. However, the stock market is closed today, Wednesday, due to the Maharashtra Assembly Elections 2024.
Dividend Details and Eligibility
The company announced that shareholders will receive ₹53 per share with a face value of ₹10 each. The record date to determine eligible shareholders is November 27.
Only those who hold shares before this date will receive the dividend. Shareholders purchasing shares after November 27 will not be eligible for this payment.
Previously, Multibase India had declared dividends of ₹3 in August 2024, ₹2 in September 2023, ₹1 in September 2022, and ₹2 in September 2021.
Strong Financial Performance Boosts Investor Confidence
Multibase India’s financial performance for the quarter ending in September 2024 has impressed investors.
The company’s net profit increased by 113.43%, reaching ₹4.29 crore compared to ₹2.01 crore during the same period last year. Revenue also grew by 13.28%, from ₹16.26 crore to ₹18.42 crore.
Established in 1991 as Synergy Polymers Limited, Multibase India has made significant progress over the years. The company manufactures thermoplastic elastomers
and silicone-based products. It rebranded to Synergy Multibase Limited in 2002 and later became Multibase India Limited in 2007.
Stock Performance and Growth
Multibase India’s stock has provided excellent returns, making it a multibagger. The stock has risen by over 109% in the last year and is up 102.3% year-to-date.
Despite a 4% drop in October, it has surged by nearly 79% in November. On November 19, the stock hit a 52-week high of ₹472 and closed at ₹467.25.
Compared to its 52-week low of ₹215.15 in November last year, it has increased by more than 117%.
