Rs 20/Share Dividend: Dolly Khanna Stock To Trade Ex-Dividend Tomorrow

Monte Carlo Fashions Ltd is a small cap consumer discretionary company. The flagship company of the Nahar group, Oswal Woolen Mills Ltd, established Monte Carlo Fashions Ltd in 1984. More than 200 exclusive brand outlets and over 1300 multi-brand outlets currently handle Monte Carlo. According to information available on the BSE, the company has announced a final dividend of Rs 20 per share for FY23, with the ex-dividend date being on August 24, 2023.

Monte Carlo Fashions Dividend

The company has recommended a final dividend of Rs 20/-per equity share (i.e. 200%) having face value of Rs 10/- each for the FY 2022-2023.

"The dividend, if declared at the Annual General Meeting, will be paid subject to deduction of income tax at source ('TDS'), wherever applicable within a period of 30 days from the date of declaration to the members as under: To all the Beneficial Owners as on Thursday, August 24, 2023 as per the list of the beneficial owners to be furnished by the National Securities Depository Limited and Central Depository Services (India) Limited in respect of the shares held in electronic form; and To all Members in respect of shares held in physical form after giving effect to valid transmission and transposition in respect of valid requests lodged with the Company/Registrar and Share Transfer Agent as on Thursday, August 24, 2023, said Monte Carlo Fashions in a stock exchange filing.

Monte Carlo Fashions Financials

During Q1FY24, the company reported Rs 1,388 mn of revenue of operations up by 22.9% YoY from Rs 1,129 mn in Q1FY23 on a standalone basis. The company recorded an EBITDA of Rs -41 mn in June 2023 quarter compared to Rs 44 mn in June 2022 quarter.
Monte Carlo Fashions reported a net loss of Rs 116 mn in Q1FY24 compared to a net loss of Rs (39) mn in Q1FY23.

Monte Carlo Fashions Share Price Target

MONTECARLO is forming a bottom near its 200 EMA t daily timeframe and currently trading at 775. The current RSI is at 44 at the daily timeframe. We can consider it as Dip buying with a small stop loss level at 720. Keep target expectations 800 to 935. said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

Monte Carlo Fashions Shareholding

During Q1FY24, the company reported promoters shareholding of 73.17%, FIIs stake of 1.23%, DIIs stake of 1.18% and public stake of 24.41%. As per the shareholding pattern of Monte Carlo Fashions available on BSE for the quarter ended June 2023, ace investor Dolly Khanna held 4,90,080 shares or 2.36% fully paid-up equity stake in the company.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.