Valiant Organics falls 10% on disappointing Q2 nos; Co announces 1:1 bonus

Shares of Valiant Organics dipped 10 per cent to Rs 3,085 on the BSE in an otherwise strong market on Saturday after the company reported 5 per cent year-on-year (YoY) jump in consolidated net profit at Rs 32.29 crore for the September quarter (Q2FY21). Revenue from operations grew 1.7 per cent YoY at Rs 167 crore.

With today’s fall, the stock of the company engaged in manufacturing of chemicals business has declined 15 per cent in the past two trading days. At 06:28 pm, it was trading 8 per cent lower at Rs 3,168 on the BSE, as compared to 0.61 per cent rise in the S&P BSE Sensex.

Meanwhile, the company's board of directors approved to issue of bonus shares in the ratio of 1:1 i.e. 1 bonus equity share for 1 fully paid up equity share held.

The board also approved payment of interim dividend for the financial year 2020-21 of Rs 5 per share i.e. (50 per cent on equity shares) of Rs 10 each. The company has fixed Wednesday, November 25, 2020, as the “record date” for the purpose of entitlement of shareholders for the payment of interim dividend.