Multibagger stock with 445% returns in three years turns ex-dividend today; check details

Shares of MM Forgings Ltd are trading ex-dividend today with an interim dividend of Rs 6 per share. MM Forgings stock gained 2.5% to Rs 865 today against the previous close of Rs 843.90 on BSE. The stock opened higher at Rs 849.65 on BSE. MM Forgings stock has climbed 10.3% in one year and gained 5.17% since the beginning of this year. The stock has zoomed 445% in the last three years, delivering multibagger returns for shareholders. Total 123 shares of the firm changed hands amounting to a turnover of Rs 1.05 lakh on BSE. Market cap of the firm stood at Rs 2079 crore on BSE.     

In terms of technicals, the relative strength index (RSI) of the stock stands at 45.1, signaling it's trading neither in the overbought nor in the oversold zone. MM Forgings shares have a beta of 0.6, indicating low volatility in a year. MM Forgings shares are trading higher than the 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages. 

The Chennai-based firm announced an interim dividend of Rs 6 per equity share of face value of Rs 10 each for the financial year 2022-23. The firm engaged in the manufacturing of auto parts fixed May 29, 2023 as the record date for the purpose of payment of dividend.    

The firm reported a 20% rise in revenue to Rs 388.30 crore in the March 2023 quarter against Rs 323.67 crore  in the March 2022 quarter. Net profit climbed 169.61% to Rs 30.79 crore in Q4 against Rs 11.42 crore in the March 2022 quarter.  EBITDA rose 25.53% to Rs 69.53 crore in Q4 against Rs 55.39 crore in the March quarter of 2022.     

On an annual basis, net profit zoomed 15.27% to Rs 128 crore for the fiscal ended March 2023 against Rs 111 crore for the fiscal ended March 2022. For the fiscal ended 2021, net profit stood at Rs 46.06 crore.      

Revenue climbed 30.18% to Rs 1461.88 crore in the March 2023 fiscal against Rs 1122.97 crore for the fiscal ended March 2022. For the fiscal ended 2021, sales stood at Rs 751.93 crore.     

MM Forgings is an India-based company, which is engaged in the manufacturing of steel forgings. The company is a manufacturer of automotive components. Its products include sprocket, flange housing, connecting rod, connecting rod integral, rail forging, hub, knuckle-1, knuckle-2, front axle beam, universal joint cross, steering arm, planetary wheel carrier, pivot arm, upper arm shaft, front axle beam, shifter fork and rear axle spindle, yoke shaft, double yoke, crankshaft 2cylinder, crankshaft single cylinder, crankshaft 3cylinder, crankshaft 6cylinder.