Foseco India hits new high

Foseco India reported excellent earnings for its Q4 (Jan-Dec year ending) with net profit rising 51% (YoY) at Rs.12 crore on a 21% jump in revenue from operations at Rs.106 crore.

EBITDA came in at Rs.18 crore, up 55% with margins rising sharply from 13.35% to 17.08%.

For the full year 2022, the company’s net profit rose 41% at Rs.46 crore and revenue was ay Rs.407 crore, up 20%.

What really cheered the market is the final dividend of Rs 25 (250%), plus a one-time special dividend of Rs 15 (150%), taking total dividend tally to Rs.40 (400%).

This special Rs.15/share dividend is to celebrate completion of 65 years of the company in the current year 2023.

The market celebrated this with the stock price hitting a 5-year high at Rs.2209.55, up 10%. Volumes have jumped up almost 4x.