a small-cap company with a market valuation of 162 crores The one that operates in the textile industry is Indian Card Clothing Company Limited. Initially a collaboration agreement between Carclo Engineering Group and English Card Clothing, Indian Card Clothing is a manufacturer of card clothing. The firm operates in over 18 foreign countries and specializes in metal card fabrics for the textile and non-woven industries. The company has declared a special interim dividend of 250% or Rs. 25/- per equity share of face value of Rs. 10 for the financial year 2022-23.
Today the Company informed the BSE saying that “You are hereby informed that the Board of Directors of the Company in its meeting held today, which commenced at 12:30 PM and ended at 1:30 PM; Has declared a special interim dividend of Rs. 25/- per equity share of face value of Rs. 10/- each will be paid as Special Interim Dividend for the financial year 2022-23. As per regulation 42 of SEBI (Listing Liabilities and Disclosure Requirements) Regulations, 2015 [“Listing Regulations”] For the purpose of payment of Special Interim Dividend for the financial year 2022-23, July 8, 2022 has been fixed as the cut-off date (“Record Date”).
The company in its exchange filing also said that the board of directors has “considered and approved a proposal from joint venture partner – Joseph Sellers to acquire the remaining 40% equity stake in the company’s overseas subsidiary, Garnet Wire Ltd., UK. Sun Ltd. Required disclosure under regulation 30 of the Listing Regulations read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015 in respect of the proposed acquisition will be given separately.”
The stock climbed 8.02 percent from its previous close Closed at a market price of 250.50 and 270.60 today. The stock has given a return of 68.55 per cent in the last one year, but in the last three years it has given a multibagger return of 190 per cent to its shareholders. On a Year-on-Year (YTD) basis, the stock is down 2.59% so far in 2022 and at current levels Indian Card Clothing shares are trading above 5 days, 20 days, 50 days, 100 days and 200 days. . -day moving average. The stock is currently trading with a low P/B of 0.61 times the book value per share of 450.08.