Kedia owned 1.29 per cent stake in Cheviot Company as of June 30. His name was missing in the September quarter list. Companies are required to report all shareholders holding over 1 per cent stake. It cannot be ascertained whether Kedia exited completely from the scrip.
The ace investor had entered the stock in December quarter of 2015.
Cheviot Company owns Cheviot Jute Mills in West Bengal. The company manufactures technical jute fabrics and fully customised jute shopping bags for the export market. As per the company’s annual report for FY21, exports as a percentage of total sales rose to 42 per cent from 36 per cent in FY20 and 37 per cent in FY19.
The company paid a special dividend of Rs 175 this year, whose ex-date was July 15. It gave a dividend of Rs 48 per share in FY20 and Re 1 per share in FY19.
In its annual report, the company said raw jute shortage was a challenge and it could only hope for a bumper crop in the current season. “We are already operating at reduced capacity due to this situation. Outlook for the coming year is challenging,” the company said.
Cheviot also said it was able to withstand the losses of Covid-19 shutdown during the first wave but it cannot predict the outcome and impact of the second wave.