This Small Cap Auto Ancillary Company Recommends An 864% Dividend, Posts Net Profit Growth Of 41.11%

Sharda Motor Industries, a small-cap auto ancillary company has reported a net profit growth of 41.11% for the quarter ending in March 2023, over a year ago. The company also recommended a final dividend of 864% on May 18.

Through securities exchange filing, Sharda Motor Industries announced its Q4FY23 and FY23 results, along with the final dividend details.

As per the filing, the company posted a total income growth of 12.21% of Rs 70 186.40 lakhs against last year's income of Rs 62 546.74 lakhs for the same period. While for the financial year FY23 the total income has grown by 19.99% against FY22.

However, the net profit(PAT) was up by 41.11 % to Rs 6206.61 lakhs as compared to Rs 4398.46 reported last year for the quarter. And for the year the profit stood at Rs 20,833.40 lakhs, a growth of 39.62% as against last year's profit of Rs 14,921.51 lakhs.

Dividend Details of Sharda Motors Industries
According to the exchange filing of Sharda Motor Industries the Board of Directors has recommended a final dividend of Rs 17.27 per equity share of face value of Rs 2 each (i.e
864%), for the financial year 2022-23, subject to the approval of shareholders in the ensuing Annual General Meeting(AGM).

No record date or book closure details and AGM detail were shared yet by the company.

Sharda Motor Industries Scrip Movement
The stock price of Sharda Motor Industries closed at Rs 796.45 per share in Friday's trade, it marginally fell by 0.70% on an intraday basis. Its 52-week high is at Rs 950 per share and its 52-week low is Rs 550 per share. In the last one year, the stock price surged up by 20.56%, while in the last three years, it has zoomed up by 552.99%.

Disclaimer
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