Multibagger Stock Sets Record Date For Final Dividend, Gains 125% From 52-Week-Low

NDL Ventures is a small-cap consumer discretionary firm that recorded a market cap of Rs 436.72 Cr during Friday's closing session. NDL Ventures, a Hinduja Group Company, deals in business segments i.e. Media & Communications and Real Estate. The company has fixed record date for the final dividend for FY23.

The company has fixed Friday, August 25, 2023 as the record date to determine the members eligible to receive dividend of Rs. 2/- per equity share for the financial year ended March 31, 2023, if approved by the members at the 38th AGM to be held on Friday, September 08, 2023.

"Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, August 25, 2023 as the "Record Date" for the purpose of determining eligible Members for the payment of Dividend for the financial year ended March 31, 2023, as recommended by the Board, if approved at the ensuing 38th AGM. The Dividend, if approved by the Members of the Company at the ensuing AGM, will be paid/dispatched by the Company in permitted modes within the stipulated timelines to the eligible Shareholders," said NDL Ventures in a stock exchange filing.

NDL Ventures has announced an equity dividend of 20.00%, or Rs 2 per share, for the financial year ended March 2023. This generates a dividend yield of 1.57% at the current share price of Rs 129.70. The company has a solid track record of dividend declarations during the past five years. According to Trendlyne's statistics, NDL Ventures Ltd. has issued 25 dividends since September 5, 2001.

The company reported a net income of Rs 1.51 Cr in Q1FY24 compared to Rs 174.21 Cr in Q1FY23. Its net expenses stood at Rs 1.03 Cr in the quarter under review as against Rs 180.50 Cr in the year-ago quarter. The EBIT of NDL Ventures reached Rs 0.48 Cr in Q1FY24 compared to Rs (-6.29) Cr in the year-ago quarter. NDL Ventures said its net profit was Rs 0.48 Cr in the quarter ended June 30, 2023 compared to a net loss of Rs -36.27 Cr in the quarter ended June 30, 2022.

On Friday, the shares of NDL Ventures closed on the BSE at Rs 129.70 apiece up by 2.77% from the previous close of Rs 126.20. The stock made a 52-week-high of Rs 142.85 on (08/12/2022) and a 52-week-low of Rs 57.75 on (09/11/2022), indicating that at the current market price, the stock is trading 124.58% above the 1-year low and 9,20% below the 1 year high.