350% Dividend Per Share: Mid Cap Stock To Trade Ex-Dividend Tomorrow

Mid-size company Kalpataru Projects International Ltd had a market worth of Rs 8,961.34 Cr at the end of trading on Tuesday. One of the largest firms strongly established in the worldwide power transmission and infrastructure EPC arena is Kalpataru Projects International Limited (KPIL).

The company has declared a final dividend for FY 2022-23 of Rs. 7/- per Equity share (350%) as recommended by the Board of Directors at its meeting held on May 08, 2023. For the purpose of the same July 06, 2023 has been fixed as the record date and due to the T+1 settlement mechanism of the company the stock will trade ex-dividend tomorrow.

"In respect of Final Dividend for FY 2022-23 of Rs. 7/- per Equity share (350%) recommended by the Board of Directors at its meeting held on May 08, 2023 and pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Thursday, July 06, 2023 as the "Record Date" for the purpose of determining entitlement of members to Final Dividend, if declared at the 42nd Annual General Meeting of the Company. The final dividend will be paid on or before August 14, 2023, if declared," said Kalpataru Projects in a stock exchange filing.

In Q4FY23, the firm reported consolidated revenue of Rs 4,882 Cr, which is a rise of 18% YoY from Q4FY22's sales of Rs 4,135 Cr. According to the company, its EBITDA grew by 46% YoY to Rs 440 Cr during the quarter ended March 2023 from Rs 302 Cr reported during the quarter ended March 2022. According to Kalpataru Power Transmission, its net profit grew by 22% YoY to Rs 140 Cr during Q4FY23 from Rs 115 Cr recorded during Q4FY22. According to Kalpataru Power, its revenue grew by 11% YoY to Rs 16,361 Cr in FY23 from Rs 14,777 Cr in FY22. According to the company, EBITDA climbed by 17% YoY to Rs 1,481 Cr in FY23 from Rs 1,264 Cr in FY22. The company's net profit dropped -19% YoY, from Rs. 535 Cr in FY22 to Rs. 435 Cr. in FY23.

On Tuesday, the shares of Kalpataru Projects International Ltd closed on the BSE at Rs 553.25 apiece down by 0.42% from the previous close of Rs 555.60. The stock made a 52-week-high of Rs 597.15 on (13/03/2023) and a 52-week-low of Rs 345.00 on (06/07/2022). During Q4FY23, the company reported promoter shareholding of 47.23%, FIIs stake of 6.92%, DIIs stake of 37.76%, and public stake of 8.08%.