Zero-debt defence PSU giant is set to turn ex-dividend on September 23, which will also be the record date to be eligible for the reward. The defence PSU is going to deliver a final dividend of 17% for FY24, which comes after the stock has split in the ratio of 1:2. Who is it? Not the defence giant, Bharat Electronics (BEL) but instead the midcap defence PSU company, Bharat Dynamics.
Bharat Dynamics Share Price:
Ahead of the dividend, BDL share price ended at Rs 1150.35 apiece, up by 2.6% on BSE with a market cap of Rs 1150.35 crore.
The stock's 52-week high and low is Rs 1,794.70 apiece and Rs 450.50 apiece respectively. The stock's price-to-equity ratio is at 72.94x, and the return on equity is at 15.90%.
YTD, BDL shares have zoomed by 33.3%. In a year, the stock rallied by 129%.
Bharat Dynamics Dividend:
The defence player has announced a final dividend of 17% worth Rs 0.85 per share for FY24. Earlier, for the fiscal, the company paid dividends up to 88.5% worth Rs 8.85 per share for which it turned ex-dividend on April 2, 2024.
For the final dividend, the company has fixed Monday, 23 September 2024 as the "Record Date" for determining the members eligible to receive the final dividend. The dividend, if declared by the members at the AGM, will be paid within 30 days from the date of declaration.
Since September 2018, BDL has distributed 13 dividends.
Bharat Dynamics Stock Split:
Dividends weren't the only major reward for FY24. BDL shares also split for the first time in May 2024, in the ratio of 1:2, where the face value of Rs 10 each was cut to Rs 5 each.
BUY/SELL Bharat Dynamics Share Price:
As per Trendlyne, the consensus recommendation from 6 analysts for Bharat Dynamics Ltd. is BUY. EPS is expected to grow by 9.4% in FY25. The average 1-year target price set on BDL is Rs 1419.33 apiece, hinting at a potential 23.48% upside ahead.
At the latest, Antique Stock Broking has recommended BUY on BDL for a target price of Rs 1,579 apiece, signalling over 37% potential upside ahead.
About BDL:
Bharat Dynamics Limited (BDL), was incorporated on 16th July 1970 in Hyderabad, Telangana as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces.
Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.
At present, BDL has evolved as one among the few industries in the world having state-of-the-art facilities for manufacture and supply of Guided Missiles, Underwater Weapons, Air- borne products and allied defence equipment for the Indian Armed Forces. The Company also offers Product Life Cycle Support and Refurbishment / Life Extension of vintage Missiles.
Also, BDL, with its over five decades of missile and allied defence equipment manufacturing experience, skill-sets developed and state-of-the-art infrastructure, is poised to enter new avenues of manufacturing covering a wide range of weapon systems such as Air-to-Air Missiles, Air-to-Surface Missiles, Air Defence Systems, Underwater Weapons and Mines.
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