Rs. 15/Share Dividend: Buy The Stock Now To Get The Payout By 7th September?

Established in 1981, Lakshmi Electrical Control Systems (LECS) formally collaborated with "Sprecher+Schuh" Switzerland to develop control gear. LECS began producing control panels, commercial tool room moulds, and engineering plastic components in 1984. The firm is listed on the BSE and has its headquarters located in Coimbatore.

Lakshmi Electrical Control Systems FY24 Dividend

"The Board of Directors at their meeting held on 23rd May 2024 inter alia, recommended dividend of Rs. 15.00 /- (150%) per equity share of the face value of Rs.10/- each for the financial year ended 31st March 2024 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). Upon approval of the shareholders dividend amount would be credited by 7th September 2024 to the account of the shareholders who have registered their bank account details with Depositories / the Company. The shareholders who have not registered their bank account details, dividend warrants will be dispatched by 7 September 2024," said Lakshmi Electrical Control Systems in a stock exchange filing.

"The dividend will be paid to those equity shareholders whose names appear in the Register of Members as on Friday, 24 August 2024 in respect of shares held in physical form and in respect of shares held in dematerialized form, the dividend shall be paid on the basis of beneficial ownership as per the details furnished by the Depositories for this purpose at the end of business hours on 2nd August 2024," the company further informed to the stock exchanges.

Lakshmi Electrical Control Systems Financials

In the March 2024 quarter, the company's net sales were Rs 61.95 crore, which is a 35.32% drop from the March 2023 quarter's Rs 95.78 crore. In Q4FY24, the company's net profit was Rs. 2.08 crore, a 48.63% drop from Rs. 4.05 crore in Q4FY23. EBITDA plummeted 42.27% from Rs. 6.60 crore in the quarter ended March 2023 to Rs. 3.81 crore in the quarter ended March 2024. Net profit for the entire year dropped by 29.95% to Rs 13.96 crore in the fiscal year that ended in March 2024 from Rs 19.93 crore in the fiscal year that ended in March 2023. Sales for the year ended March 2024 dropped to Rs 337.97 crore from Rs 360.82 crore in the year prior ended March 2023, a drop of 6.33%.

Lakshmi Electrical Control Systems Share Price Target

"Lakshmi Electrical Control Systems, a Manufacturer of electrical control panels, injection molding, switchgear components, cable harnesses, and other electrical products, has garnered interest due to its market valuation and growth potential. For instance, the company boasts a sector PE of 27.02 against the average sector PE of 48.86, suggesting its significant undervaluation in the market. The company has recorded its one-year returns at 44.96%, hinting at its growth and profitability. Hence, those willing to explore the company's potential may consider the stock at the buying range of Rs. 1080 to 1120. I recommend holding the stock for a period of 30-180 days for a targeted price of Rs. 1350/1430/1500/1650/2000. However, they must vigilantly adhere to the stop loss of Rs. 900 to avoid risk exposure," V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) said.

Disclaimer

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