Rs 24/Share Dividend Confirmed: Zero-Debt Stock Declares Payment Date For 240% Dividend

Small cap company from the Industrial Equipment sector Esab India Ltd on March 27 declared second interim dividend of Rs 24/- per equity share of Rs 10/- each (240%) for the FY ending March 31, 2024. The company fixed April 5, 2024 as the record date for second interim dividend and announced April 24 as the payment date. Last trading price of ESAB India share on BSE is Rs 5268.00 per share. The total dividend value is estimated at Rs 36,94,32,480/-. Esab India shares rallied 10% in last 2-weeks, fell 10% in last 3-months, and rallied 75% in last 2-years. The company has a market capitalisation of Rs 8,109.04 crore. Check details below:

Esab India Declares Interim Dividend: As per the regulatory filing of the company dated March 27, 2024, "The Board of Directors of the Company at its meeting held today i.e., 27th March 2024 has declared Second Interim Dividend of Rs. 24/- per equity share of Rs.10/- each (240%) for the financial year ending 31st March 2024 resulting in an outflow of Rs. 36,94,32,480/- (subject to deduction of tax at source where applicable). The said Second Interim Dividend declared by the Board of Directors would be paid to the equity shareholders on 24th April 2024."

Esab India Shares Performance: The 52-week high price of ESAB India share on BSE is Rs 6,542.65 apiece and 52-week low price is Rs 3221.35 apiece, respectively. Esab India shares rallied 53% in last 1-year, soared 190% in last 3-years, and surged 473% in last 5-years. In last 10-years, ESAB India stock gave return of 1071%.

Esab India Financial Performance: The company declared its Q3 FY24 on February 8, 2024. It announced an attractive surge in its revenue and profit. The topline of ESAB India registered a surge of 12.74% year-on-year (YoY), highlighting a robust growth. Its profit jumped 4.52% YoY, indicating better operational efficiency and effective cost management. However, it witnessed a marginal fall in revenue by 0.56% and a decline in profit by 1.2% as against the previous quarter. Several factors were responsible for it that included market conditions, competition, and other external factors, as per the BSE filing.

Esab India About: Esab India Ltd is one of the leading suppliers of welding and cutting products in India. It is engaged in the business of fabrication technology. It operates significantly into domestic and international markets. Its products became an integral part of industries like Shipbuilding Petrochemical Construction Transport Offshore Energy and Repair and Maintenance.

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