Milkfood Ltd Share Price: Shares of leading fast-moving consumer goods (FMCG) company Milkfood Ltd have been buoyed by investors. On Thursday, the fourth day of the week, the stock hit an upper circuit of 20%. The hike comes at a time when the company said it may consider declaring an interim dividend and bonus issue soon. The company will hold its board meeting on June 25.
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Shares of Milkfood Ltd. had earlier closed at Rs. was 565.75. During Thursday’s trading, the stock rose 20 percent to Rs. 678.90. This is the closing price of the stock. The share price was at a low of Rs 490 in March 2024. The stock is at a 52-week low.
What the company said
In a regulatory filing to the stock exchanges, Milkfood Limited said- ‘We hereby inform you that a meeting of the Board of Directors of the Company will be held on Tuesday, June 25, 2024, at which, inter alia, various matters will be considered.
1. Proposal for payment of interim dividend on equity shares of the company.
2. Bonus issue is proposed. This will be subject to necessary regulatory/statutory approvals including the approval of shareholders of the Company.
3. It is proposed to divide the equity shares of the company with face value ₹10/- and related matters.
Talking about the shareholding pattern of Milkfood Limited, the promoter holds 47.75 percent stake. Public shareholders hold 52.25 percent stake. Karamjit Jaiswal, the promoter of the company, holds 17,00,024 shares or 33.15 percent stake. While Roshni Jaiswal holds 13.65 percent share. This is equivalent to 7,00,060 shares.
Company Quarterly Results: As for the net sales of Milkfood Limited in the March quarter, it stood at Rs. 121.69 crores. This is 8.81% lower than the March 2023 quarter. March quarter net profit at Rs. 3.88 crores. The EBITDA of the company is Rs 10.64 crore.