With a market valuation of Rs. 4,300.94 crore, Godavari Power and Ispat Limited is a small-cap company that operates in the industrial sector. Godavari Power and Ispat Limited (GPIL), a public limited company, is a founding member of the Heera Group of Industries based in Raipur, Chhattisgarh. The company deals in the steel sector, specializing in mild steel wire. Presently, GPIL manufactures mild steel wire and also produces steel wire, sponge iron, billets, ferroalloys, captive power, oxygen gas, fly ash bricks and last but not least iron ore pellets. For the financial year 2021–2022, the Board of Directors has recommended payment of a final dividend of Rs. 8.50 per share (ie 170%) at the face value of Rs. 5/- each. At the current stock price of Rs. 303, this translates to a dividend yield of 2.80%.
The company in a regulatory filing stated that “The Board of Directors has recommended payment of a final dividend of Rs. 8.50/- per share (i.e. 170%) on an equity share of Rs. 5/- each on paid-up equity share capital i.e. 14,09,44,988 equity shares of face value of Rs.5/- each in addition to interim dividend of Rs.5/- per share on 3,52,36,247 equity shares of Rs. 10/- each (before sub-division and issue of bonus shares). The dividend recommended by the Board of Directors of the company is subject to the approval of the shareholders in the ensuing Annual General Meeting of the company.”
As per the data available on BSE, 26/08/2022 has been fixed as the record date and 25 August 2022 has been fixed as the ex-date for dividend purposes. Shares of Godavari Power and Ispat Ltd closed on NSE on Friday 303 each, down 1.99% from the previous close 309.15 per share. The total trading volume for the stock as on Friday was 5,16,897 shares which was equal to the trading price of 1,583.00 lakh. The 20-day average trading volume of the stock is 349,193 shares. Over the past 5 years, the share price has grown by 66 per share up to current level as of 1 September 2017 which entails a multibagger return of 359.09%. In the last 3 years, the stock has given a multibagger return of 619.41%. However, in the last 1 year, the stock has fallen 48.14% and on YTD basis, the stock has gained 9.60% so far in 2022.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.