Rs 3.5/Share Dividend Declared: NBFC Declares 55.5% YoY Surge In PAT, Shares Up 87% In 1-Yr

Mid cap company from the NBFC sector, 360 ONE WAM Ltd share declined over 1% in trade today to settle at Rs 762.25 per share on BSE despite announcing healthy financial results and interim dividend. The Board of Directors of 360 ONE WAM declared 3.5/share dividend today and its profit after tax (PAT) surged 55.5% year-on-year (YoY) to Rs 241 crore. 360 ONE WAM share offered attractive return of 87% in last 1-year. More details given below:

360 ONE WAM Ltd Announces First Interim Dividend: According to the BSE filing of 360 One dated April 23, 2024, "first interim dividend for the financial year 2024‐25 of Rs. 3.5/‐ (Rupees three and paise fifty only) per equity share of face value of Re. 1/‐ (Rupee one only) each and has fixed the record date as Thursday, May 2, 2024, for this purpose. The said interim dividend will be paid/dispatched on or before Wednesday, May 22, 2024, subject to applicable taxes."

360 One Wam Financials: The company announced its Q4 FY2024 profit after tax (PAT) at Rs 241 crore, up 55.5% year-on-year (YoY) and 24.3% Quarter-On-Quarter (QoQ). The company declared its FY24 PAT at Rs 802 crore, up 20% YoY.
The total revenues for FY24 declared at Rs 1965 crore, up 25.3% year-on-year (YoY). Meanwhile, Q4 FY24 total revenues declared at Rss 623 crore, up 61.8% YoY and 33.6% QoQ.

Overall assets under management (AUM) at Rs 4,66,909 crore as on March 2024. The company's annual recurring revenue (ARR) AUM declared at Rs 2,27,879 crore, up 36.3% YoY and 3.2% QoQ.

360 ONE WAM Share Performance: The 52-week high price of 360 ONE WAM share on BSE is Rs 901.10 per share (as on 18/04/2024) and 52-week low price is Rs 397.95 per share (16/05/2023), respectively. The NBFC has a market capitalisation of Rs 27,354.30 crore. 360 ONE WAM shares rallied 24% in last 3-months, soared over 43% in last 6-months, and gained 87% in last 1-year. In last 2-years, 360 One Wam shares zoomed 72% and surged 179% in last 3-years.

360 ONE WAM Dividend History: 360 One Wam announced 14 dividends since October 31, 2019. In last 12 months, 360 One Wam offered an equity dividend amounting to Rs 16.50 per share. At the current share price of Rs 799.5000, 360 One Wam offers a dividend yield of 2.06%.

360 ONE WAM Stock Split History: 360 One Wam split the face value once since March 2, 2023. 360 One Wam last split the face value of its shares from Rs 2 to Re 1 in 2023.The shares traded ex-split from March 2, 2023.

Analysts Recommend Buy: Brokerage Jefferies India has initiated coverage on 360 One Wam share and upgraded the target price to Rs 900 per share. "We believe Indian Wealth Managers (IWMs) are well-placed to ride on economic growth and financialisation of savings, especially into capital markets. Leading players will benefit from strong inflows and operating efficiencies to deliver 20-22% profit CAGR over FY24-27," said Jefferies India.

Meanwhile, Motilal Oswal has recommended buy call too with target price of Rs 850 per share.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal and Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.