Mid Cap Stock KEC International Sets Record Date For Final Dividend

KEC International is a mid cap company that deals in the power sector. The company is a leader in engineering, procurement, and construction (EPC), completing projects in key fields such as power transmission and distribution, railways, civil engineering, urban infrastructure, solar energy, smart infrastructure, and cables.

For the purpose of payment of final dividend of Rs. 3/- per equity share for the financial year ended on March 31, 2023, subject to approval by the Members at the ensuing AGM to be held on Tuesday, August 08, 2023, the Board of Directors of KEC International have fixed record date.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, July 25, 2023, as the Record Date for determining entitlement of Members to final dividend, if approved by the Members at the AGM. The dividend, if approved at the ensuing AGM, will be paid on or before Thursday, September 07, 2023, to those Members whose name appear in the Register of Members of the Company and/or the Register of Beneficial Owners maintained by the Depositories as on the Record Date," said KEC International in a stock exchange filing on Monday.

The company reported consolidated revenue from operations of Rs. 5,525 Cr. in Q4FY23, a rise of 29% YoY from Rs. 4,275 Cr in Q4FY22. The company's revenue climbed to Rs 17,282 crore in FY23 from Rs 13,742 crore in FY22. According to the firm, its consolidated EBITDA for Q4FY23 was Rs. 283 crore as opposed to Rs. 252 crore for Q4FY22, and its EBITDA margin dropped to 5.1% from 5.9% in the year-ago quarter.

Its EBITDA in FY23 was Rs. 830 as opposed to Rs. 904 Cr in FY22, and its EBITDA margin was 4.8% as opposed to 6.6% in FY22. KEC International reported that its consolidated net profit dipped by 35.71% YoY to Rs. 72 Cr in Q4FY23, down from Rs. 112 Cr in the year-ago quarter. In FY23, its net profit slipped to Rs. 176 Cr. from Rs. 363 Cr. in FY22.

On Tuesday, the shares of KEC International opened on the BSE at Rs 572.35 apiece. The stock made a 52-week-high of Rs 611.05 on (07/07/2023) and a 52-week-low of Rs 386.55 on (12/08/2022). During Q4FY23, the company reported promoter shareholding of 51.88%, FIIs stake of 12.60%, DIIs stake of 25.79% and public stake of 9.73%.