This Large-Cap Pharma Stock Fixes Record Date To Pay 1650% Dividend

Piramal Enterprises Ltd (PEL) is India's leading diversified company and has strong presence in financial services and pharmaceuticals. It has fixed record date to pay an equity dividend of 1650% amounting to Rs 33 per share. Read below for more details:

1. Piramal Enterprises Ltd to pay 1650% dividend

The board of directors of the company has stated in the BSE filing dated May 26, 2022, "The Board has recommended a Final Dividend of Rs. 33/- (Rupees Thirty-Three only) per equity share of face value of Rs. 2/- each (i.e. @ 1,650%) for the financial year ended 31st March, 2022." 

Record Date and ex-dividend date: Piramal Enterprises has fixed July 15, 2022 as the record date. The ex-dividend date is July 14, 2022.

2. Piramal Enterprises Ltd Dividend History

The company has a good dividend track record and regularly paid dividend in the last 5 years. If the current market price of the stock is taken into consideration at Rs 1629 apiece, the dividend yield is 2.03%. The company had paid similar equity dividend of Rs 33 per share in 2021.

3. Piramal Enterprises Ltd stock outlook

The current market price of stock is Rs 1629.85. The 52-week high of the stock is Rs 3014 apiece and 52-week low is Rs 1560 apiece, respectively. The PE of the stock is 22.22 which is lesser than the sector PE of 28.15. The stock has given a negative return of 29.95% in 1 year.

4. Piramal Enterprises Ltd Overview

It has achieved a good quarterly growth in the recent results. It has beaten 3-year Revenue CAGR (Compound Annual Growth Rate). Its annual revenue growth of 11.69% outperformed its 3-year CAGR of 6.4%. Earlier, the company has announced a consolidated net profit of Rs 150 crore in fourth quarter ended March 31, 2022.

It had declared consolidated net loss of Rs 510 crore in same period a year ago, according to the company's statement. Consolidated revenue from operation for quarter 4 ended March 31, 2022 stood at Rs 4162 crore as against 3401 crore in the same period a year ago.

5. Piramal Enterprises Ltd About

PEL has steered dynamic business growth over the three decades of its existence. Anticipating the potential of financial services in India, PEL built a platform with innovative financial solutions that cater to the needs of varied industry verticals. The current market capitalization is Rs 38,953 crore.