Rs 11/Share Dividend Recommended: Are You An Eligible Investor For The Payout?

Nirlon Limited was a pioneer in the production of synthetic yarns and industrial rubber products in India, having been established in 1958. Since 2006, Nirlon's primary business has been the development and administration of IT-ITES and commercial real estate.

Nirlon Dividend

"We would like to state and place on record that the Board of Directors of the Company, at its meeting held on Wednesday, May 15, 2024, have recommended a Final dividend of Rs.11.00 per equity share of Rs. 10/- each (@110%) for the Financial Year 2023-24 subject to Shareholders' approval at the Company's ensuing 65th Annual General Meeting to be held, and the same is subject to the provision of applicable laws," said the company in a stock exchange filing.

Nirlon Dividend History

"The shareholders of the Company in their meeting held on September 15, 2023 approved the final dividend of Rs. 11 per share aggregating to Rs. 9,912.98 lakhs for the financial year 2022-23. The said dividend was paid on September 22, 2023. Further, the board of directors in its meeting held on February 12, 2024 approved interim dividend of Rs. 15 per share aggregating to Rs. 13,517.71 lakhs to its equity shareholders. The said dividend was paid on February 23, 2024," said Nirlon in its earnings statement.

Nirlon Financials

On a standalone basis, the company reported revenue from operations of Rs 153.36 crore in the March 2024 quarter up 3.54% from Rs. 148.12 crore in the March 2023 quarter. In Q4FY24, the company's net profit was Rs. 51.18 crore, a 2.95% rise compared to Rs. 49.71 crore in Q4FY23. EBITDA reached Rs. 122.69 crore in the quarter under review up 4.9% from Rs. 116.96 crore in the same quarter of FY23.

Net profit for the entire year climbed to Rs 205.56 crore in March 2024 from Rs 157.92 crore in the year prior, which ended in March 2023, a 30.17% growth. Sales for the year ended March 2024 climbed by 5.32% to Rs 603.12 crore from Rs 572.65 crore in the year prior ended March 2023.

Nirlon Share Price Target

"Nirlon Ltd stock price is bearish on the Daily charts with strong resistance at 437. A Daily close below support of 411 could lead to a target of 382 in the near term," said AR Ramachandran from Tips2trades.

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.