Vidhi Specialty Food Ingredients Limited, previously known as Vidhi Dyestuffs Manufacturing Limited, is a leading producer of superior synthetic food-grade colours. The company supplies high-quality colour solutions across a wide range of industries, including food and beverage, confectionery, pharmaceuticals, feed, cosmetics, inkjet, and salt-free colouring applications. Its manufacturing facility in Dhatav Village, Raigad District, Maharashtra, spans 176,000 square feet, and its products are distributed to over 80 countries worldwide.
Recent Financial Results
For the quarter ending September 2024, Vidhi Specialty Food Ingredients reported:
- A 14.54% increase in net profit, which rose to ₹10.32 crore, up from ₹9.01 crore in the same period the previous year.
- A 13.90% rise in sales, reaching ₹91.29 crore compared to ₹80.15 crore in the September 2023 quarter.
Dividend Announcement
The Board of Directors declared a second interim dividend of ₹1 per share (100% of the face value of ₹1 per share) for the financial year 2024-25. The record date to determine the shareholders eligible for the dividend is November 20, 2024.
Stock Performance and Target
Vidhi Specialty Food Ingredients’ stock has shown a bullish trend on the daily charts. According to independent research analyst A R Ramachandran, the stock has strong support at ₹471. If it closes above the resistance level of ₹488, the stock could target ₹530 in the near term.
With solid financial growth, a promising dividend, and a positive stock outlook, Vidhi Specialty Food Ingredients could be a stock to watch for potential investment.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice. Please conduct your own research or consult with a professional advisor before making any investment decisions.
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