Multibase Declares Highest-Ever Dividend of Rs 53 Per Share; Stock Hits Upper Circuit on Impressive Quarterly Results

Multibase India Ltd.: A Leader in Thermoplastic and Silicone-Based Solutions

Multibase India Ltd., a manufacturing powerhouse in thermoplastic elastomers and silicone-based products, serves a vast array of industries, including automotive, building, and construction. Collaborating with over 1,000 customers and offering more than 20 specialized products, the company exports to markets worldwide, cementing its role as a global player in the polymer industry. Notably, 75% of the company’s shares are held by its parent, Multibase S.A., showcasing a strong foundation and strategic support.

Record Dividend Announcement Sends Multibase Shares Soaring

On November 14, 2024, Multibase’s share price surged, reaching a 20% upper circuit. The impressive rally was largely fueled by the announcement of its highest-ever interim dividend of Rs 53 per equity share (face value of Rs 10) for the financial year 2024-25. This unprecedented dividend reflects the company’s solid financial health and commitment to rewarding shareholders. The record date for the interim dividend is set for November 27, 2024, with payment scheduled on or before December 12, 2024, subject to applicable taxes.

Stellar Quarterly Performance Drives Growth

In its quarterly financial results ending September 30, 2024, Multibase reported a robust revenue of Rs 1,841.96 lakhs, marking a significant growth from Rs 1,626.42 lakhs in the same period last year. Net profit after tax also saw a substantial rise, climbing to Rs 428.80 lakhs compared to Rs 209.47 lakhs from the previous year’s corresponding quarter. These results underscore Multibase’s effective growth strategies and operational efficiencies, which continue to drive shareholder value.

Share Price Momentum: A Strong Year-to-Date Performance

The share price of Multibase has gained an impressive 20.94% over the last three months, and it has appreciated by 42.18% on a year-to-date basis.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.