Multibagger stock The Yamuna Syndicate Ltd will turn ex-dividend on August 23, Friday. The company is engaged in trading & marketing of tractors, industrial lubes, automotives, batteries, electrical, pesticides & fertilisers and sugar. It runs petrol pumps as well.
The Yamuna Syndicate had earlier said that August 23 would be taken as record date for determining entitlement of members for payment of dividend of Rs 400 per equity share of Rs 100 each, as recommended by the board of directors for the financial year ended March 31, 2024, subject to approval of the Members in the AGM.
The company will be holding its 70th AGM on Friday, August 30, 2024 at 11 am (IST) through video conferencing (VC) or other audio visual means (OAVM).
The Yamuna Syndicate reported a dividend of Rs 325 per share in 2023 and Rs 200 in 2022.
On Thursday, the scrip settled at Rs 56,175 on BSE, up 5 per cent. The multibagger stock has risen 129 per cent in 2024 so far, 221 per cent in one year and 340 per cent in the past two years.
The Yamuna Syndicate reported sales of Rs 19.34 crore for the June 2024 quarter. This was a decline from Rs 21.36 crore during the year-ago period. Profit saw a slight increase of 7.52 per cent to Rs 71.5 lakh from Rs 66.50 lakhs. Operating profit rose to 98.1 lakh from Rs 92.50 lakh in the corresponding quarter last year.
Since 2001, The Yamuna Syndicate Ltd is a major Franchisee of Amara Raja Batteries and is in distribution of the reputed AMARON range of automotive batteries. The company’s retail outlet, licensed by Hindustan Petroleum Ltd has been in existence in Yamunanagar since 1961.
The Yamuna Syndicate is backed by an associate company Isgec Heavy Engineering Ltd, which is a diversified heavy engineering company engaged in manufacturing and project businesses.