After 450% Dividend In FY23, Large Cap Cement Stock To Pay Interim Dividend Soon

Dalmia Bharat is a large-cap company dealing in the cement sector. After more than 80 years in business, the company today holds leading positions in key industries including sugar, cement, and refractories. Following a massive 450% dividend payment in FY23, the sugar firm has set a record date for the interim dividend, which will be the subject of attention in the next week.

"In compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Record Date has been revised and fixed on Wednesday, October 18, 2023 for reckoning the shareholders who shall be entitled to receive the interim dividend, if declared by the Board of Directors," said Dalmia Bharat in a stock exchange filing.

Dalmia Bharat has announced an equity dividend of 450.00% at a face value of Rs 2, or Rs 9 per share, for the financial year ended March 2023. This generates a dividend of 0.39% at the current share price of Rs 2304. The company has a solid track record of dividend declarations during the past five years. Dalmia Bharat Ltd. has issued 7 dividends since August 22, 2019, according to Trendlyne statistics.

For the quarter that ended on June 30, 2023, the firm recorded a 30% decline in its consolidated net profit, which was Rs 144 crore as opposed to Rs 205 crore in the same period the previous year. A rise of 10 percent to Rs 3,624 crore was seen in its revenue from operations. The income from operations for Q1FY23 was Rs. 3,302 crore. Cement sales volume jumped by almost 12% YoY during Q1FY24, totalling 7 million tonnes (mt).

On Wednesday, the shares of Dalmia Bharat were trading on the BSE at Rs 2,300. The scrip made a 52-week-high of Rs 2,424.40 on (27/09/2023) and a 52-week-low of Rs 1,478.05 on (17/10/2022). During Q1FY24, the company recorded promoters' shareholding of 55.86%, FIIs stake of 55.86%, DIIs stake of 8.82%, Govt stake of 0.13% and public stake of 21.29%.