Greenlam Industries Notifies Record Date For Final Dividend: Check If You Wish To Own It

Greenlam Industries is among the top three laminate brands worldwide. The company with presence in over 100 countries offers globally acclaimed brands including the likes of Decowood, Mikasa, NewMika, Greenlam Clads, Greenlam Sturdo and the top laminate brand in India - Greenlam. The company in its latest exchange filing has announced the record date for final dividend.

Greenlam Industries Notifies Record Date For Final Dividend: Check If You Wish To Own It

Here are the relevant details:

Record date for the final dividend: ", we would like to inform that the record date is fixed as Friday, July 08, 2022 for determining the eligible members of the Company for payment of final dividend on equity shares of the Company for the financial year 2021-22, if approved by the Members at the ensuing Annual General Meeting ("AGM") of the Company to be held on Wednesday, August 10, 2022 through Video._Conferencing ("VC")/ Other Audio Visual Means ("OAVM")", said the company's release. So importantly the record date is July 8, 2022. Also, the ex-date that is of equal importance is July 7, 2022.

Final dividend:

The final dividend recommended by the company is Rs. 1.2 per share of Rs. 1 each for the Fy ended 2022 and the Company will arrange to pay the same within 10 days of its approval by the shareholders of the Company at its ensuing Annual General Meeting to be held on August 10, 2022.

Greenlam Industries financials:

On a consolidated basis, the company's revenue from operations have increased sequentially to Rs.463.39 crore. Nevertheless, the net profit has taken a hit both sequentially and YoY and is placed at Rs. 25.65 crore in the latest quarter as against Rs. 30.89 crore in Q4fy21. If we consider there has been an increase in net income from Rs. 86.67 crore in Fy20 to Rs. 90.73 crore in Fy22.

SWOT analysis of Greenlam Industries stock

The company is maintaining a good standing when it comes to generate cash from core business.The company's FCF has increased from Rs. 41.14 crore to Rs. 163.13 crore in Fy2021. Also, as against the industry, the firm has a lower debt to equity of 67.14%.

Moreover as per the disclosures made transaction was made by Hydra Trading Pvt Ltd in Greenlam Industries Ltd. where Acquisition of 2,000,000 shares done was reported to the exchange on May 23, 2022. So, this can be looked upon as an opportunity.

Nevertheless, mutual funds have reduced stake in the concern but at the same FPIs have raised their holding to 1.63% in the scrip. There are no threats seen for the stock being a leader in its industry.

Disclaimer: The stock is mentioned for just for its dividend and record date information.