Rs 51 Dividend Reward: Diversified Stock Declares 9% YoY Gain In Revenue, Shares Up 208% In 1-Yr

Small cap company operating in diversified sector Apar Industries Ltd today recommended a dividend of Rs 51 per equity share of Rs 10/- each for the FY2023-24. Current market price of Apar Industries Ltd share on BSE is Rs 8305.30 per share with intraday gain of 7.39%. Today the company declared a jump of 9% year-on-year (YoY) in its revenue to Rs 4,455 crore. However, the company's PAT declined 3% year-on-year (YoY) to Rs 236 crore.

Apar Industries share hit fresh 52-week high and witnessed more than 4.78 spurt in volume. Apar Industries shares gave return of 208% in last 1-year. More details below:

Apar Industries Recommends Highest Ever Dividend In History: This year the company announced highest every dividend. As per the BSE filing of the company dated May 14, "Recommended Dividend @ Rs 51/- (510%) per equity share of Rs. 10/- each fully paid on the equity share capital of Rs. 401,683,150/- (40,168,315 equity shares of Rs. 10/- each) for the financial year 2023-24. This shall be paid subject to the approval by the members at the ensuing Annual General Meeting of the Company."

Apar Industries Q4: Apar Industries announced a jump of 3% year-on-year in its EBITDA for Q4 ended March 2024 to Rs 457 crore and for the whole year, EBITDA zoomed 25% to Rs 1,632 crore. Kushal N Desai, chairman & MD of APAR Industries said, "Fourth quarter delivered a good performance with highest ever revenues and operating results. Our premium businesses viz, premium conductors, speciality cables and transformer oil continue to outperform. The export market witnessed a contraction because of de-inventorisation, red sea issue, inflation and higher cost of capital. However, domestic demand contributed to strong results. The fundamental growth drivers remain intact."

Apar's Q4 volume soared 14% in the conductors' segment and 5% in specialty oils. Q4 revenue for the cable segment surged 15% YoY amid slowdown in the US market. But, domestic demand continued to remain robust, as per the BSE filing.

Apar Industries Share Performance: The 52-week high price of Apar Industries share on BSE is Rs 8398.95 (as on 14/05/2024) and 52-week low price is Rs 2650.00 per share (as on 19/05/2023). Apar Industries shares offered return of 53% in last 6-months, soared 1296% in last 2-years, and gained 1561% in last 3-years.

Apar Industries About: APAR Industries was started in 1958, in India. Over 60 years later, It has grown into a diversified billion dollar company, and expanded to over 140 countries as a highly trusted manufacturer and supplier of conductors, a wide variety of cables, speciality oils, polymers and lubricants, according to its official website.

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