Rs 11/Share Dividend: Small Cap Stock Sets Record Date, Gains 163% From 52-Week-Low

During Thursday's closing session, Kirloskar Industries Ltd, a small-cap firm, registered a market cap of Rs 3,314.05 Cr. Kirloskar Industries is engaged as a windmill generator with a total capacity of 5.6 megawatts. Additionally, the company delivers combustion engines and does business in India's engineering sector. For the Financial Year 2022-2023, the company has proposed a dividend of Rs 11 per equity share (i.e., 110 per cent), and for the purpose of the same record date has been fixed as 5th August.

"As informed to you earlier, the Board of Directors at its meeting held on 23 May 2023, has recommended a Dividend of Rs 11 per equity share (i.e., 110 percent) for the Financial Year 2022-2023 for the approval of the members at the AGM. Further, this is to inform you that the Dividend, if declared, by the members of the Company at the AGM, will be paid on or before 11 September 2023, through various modes Credit / NEFT / RTGS / NECS / Dividend Warrants / Demand Drafts / Banker's Cheques or any other mode available with the bank, subject to deduction of tax at source, wherever applicable, to those members:

whose names appear as Beneficial Owners as at the end of the business hours on Saturday, 5 August 2023, in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of equity shares held in electronic form; and

whose names appear as Members in the Registers of the Company after giving effect to valid applications for share transmissions / deletion of names in physical form lodged with the Company / Registrar and Share Transfer Agent on or before Saturday, 5 August 2023," said Kirloskar Industries in a stock exchange filing.

Kirloskar Industries has announced an equity dividend of 110.00% at a face value of Rs 10, or Rs 11 per share, for the financial year ended March 2023. This generates a dividend yield of 0.33% at the current share price of Rs 3352.75. The company has a solid track record of dividend declarations during the past five years. Kirloskar Industries Ltd. has issued 28 dividends since August 23, 2001, according to data from Trendlyne.

On a consolidated basis, Kirloskar Industries' net profit for the quarter ended March 2023 was Rs 43.87 crore as opposed to Rs 0.12 crore in the corresponding quarter in 2022. The total revenue from operations was Rs 1,574.79 crore in Q4FY23, up 51% from Rs 1,037.36 crore in Q4FY22. The company is yet to declare its Q1FY24 results.

On Thursday, the shares of Kirloskar Industries closed on the BSE at Rs 3352.75 apiece up by 2.17% from the previous close of Rs 3281.50. The stock made a 52-week-high of Rs 3,535.00 on (28/06/2023) and a 52-week-low of Rs 1,275.05 on (06/07/2022), indicating that at the current market price, the stock is trading 162.95% above the 1 year low and 5.15% below the 1 year high. During Q4FY23, the company reported promoter shareholding of 71.81%, FIIs stake of 0.64%, DIIs stake of 2.14% and public stake of 25.39%.