The record date for the special dividend is set on 16 July 2021.
At the closing price of Rs 800.50 recorded on Friday, the stock offers a dividend yield of 21.86%.
Meanwhile, Cheviot Company reported a net profit of Rs 25.68 crore in Q4 FY21 as against a net profit of Rs 3.50 crore in Q4 FY20. Net sales during the quarter increased by 36.7% year-on-year (YoY) to Rs 156.88 crore in Q4 FY21.
The company posted a pre-tax profit of Rs 32.77 crore in the fourth quarter as compared with a pre-tax profit of Rs 6.57 crore recorded in the same period last year.
The jute goods maker reported 57.4% jump in net profit to Rs 75.72 crore on 13.6% drop in net sales to Rs 395.76 crore in the year ended 31 March 2021 compared with the year ended 31 March 2020. Total expenditure declined 14.4% to Rs 343.34 crore in FY21 over FY20.
Mallcom (India) Limited to acquire 100% stake in Best Safety Pvt Ltd
Posted On: 2021-02-26 05:19:18 (Time Zone: Arizona, USA)
The Board of Directors of Mallcom (India) Limited has approved acquisition of 100% stake in M/s. Best Safety Pvt. Ltd. (BSPL) Consequent to the acquisition, M/s. Best Safety Pvt. Ltd. becomes a wholly owned subsidiary of the Company.
BSPL is engaged in manufacturing and export of safety shoes from its SEZ unit located within Falta Special Economic Zone (FSEZ). Since beginning, the entire production of BSPL is being sold through Mallcom (India) Limited (MIL) under third party export provisions. MIL is also operating from FSEZ having its existing unit as well as 100% subsidiary Mallcom VSFT Gloves Pvt. Ltd. and is engaged in manufacturing and export of PPE range of products. Since all the units are engaged in similar line of business and MIL being the sole exporting entity, it is quite natural and logical to integrate the SEZ operations for better sy