Honda Motor Co Subsidiary Recommends Rs 17.5/Share Dividend, Profit Rises 171.9%

Honda India Power Products today recommended a dividend of Rs 17.5 per equity share for the financial year ended March 31, 2024. The company for the March 2024 quarter declared its net profit at Rs 15.80 crore, up 171.94% as against the net profit of Rs 5.81 crore for the corresponding quarter of last year. Current market price of Honda India Power Products share on BSE is Rs 2865.90 apiece with intraday gain of 1.22%. Honda India Power Products shares offered return of 19.75% in last 1-week span and 174% in last 3-years.

Honda India Power Products Ltd Recommends Dividend: As per the BSE filing dated May 20, "we further wish to inform you that the Board of Directors at the meeting held on May 20, 2024 has recommended dividend of Rs. 17.5 per equity share of the Company for the FY ended March 31, 2024. The said dividend shall be paid to the shareholders on September 26, 2024."

Honda India Power Products Dividend History: Honda India Power Products announced 25 dividends since Aug. 31, 2001. In last 1-year, Honda India Power Products announced an equity dividend amounting to Rs 16.50 per share. At the current share price of Rs 2865.90, Honda India Power Products offers a dividend yield of 0.57%.

Honda India Power Products Results Today: The company declared its revenue from operations for March 2024 quarter at Rs 231.16 crore as against Rs 313.30 crore in the corresponding quarter of last year. Total income of the company for March 2024 quarter came at Rs 243.07 crore as against Rs 318.28 crore. The total expenses declared at Rs 226.26 crore as against Rs 291.71 crore in the same quarter of last year. The EPS for March 2024 quarter declared at 15.57 from 5.73 in March 2023.
For the whole year, Honda India Power declared its net profit at Rs 85.09 crore for March 2024 from 92.21 crore declared in March 2023. The revenue from operations came at Rs 1265.46 crore for March 2024 from Rs 1030.49 crore in March 2023.

Honda India Power Products Share Performance: The 52-week high price of Honda India Power share on BSE is Rs 3133.00 (as on 04/10/2023) and 52-week low price is Rs 2,105 per share (as on 15/06/2023). The company's market capitalisation is Rs 2906.02 crore. Honda India Power Products gained 13% in last 6-months, 22% in last 1-year, and offered return of 173% in last 5-years.

About: Honda India Power Products Ltd.(HIPP) (Formerly known as Honda Siel Power Products Ltd.) operates in the Power Products industry. It is, for over 3 decades engaged, in the Manufacturing and Marketing of Portable Generators, Water Pumps, Tillers & General Purpose Engines in India and abroad. It is also engaged in the Marketing of Lawn Mowers, Brush Cutter & Long tailed boat engines, among others.

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