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DCM Shriram declares dividend of ₹2.60, Q4 net profit slides 37% to ₹118 crore
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The results came after the close of the market hours. Shares of DCM Shriram Ltd ended at ₹1,016.00, up by ₹48.65, or 5.03% on the BSE.
Diversified agri firm DCM Shriram Ltd on Monday (May 6) reported a 36.9% year-on-year (YoY) drop in net profit at ₹117.8 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, DCM Shriram posted a net profit of ₹186.7 crore, the company said in a regulatory filing. The company’s revenue from operations tanked 11.8% to ₹2,399.3 crore as against ₹2,720 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA dropped 22.7% to ₹313.1 crore in the fourth quarter of this fiscal over ₹405.3 crore in the corresponding period in the previous fiscal.
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EBITDA margin stood at 13.1% in the reporting quarter as compared to 14.9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company’s net debt as of March 31, 2024, is ₹1,434 crore against ₹681 crore as of March 31, 2023. Return on capital employed (ROCE) for the period came in at 13.6% vs 27.3% for the financial year that ended on March 31, 2023.
The board of directors has recommended a final dividend of 130% i.e. ₹2.60 per equity share of face value of ₹2 each for the financial year ended March 31, 2024, subject to the declaration of the same by the shareholders in its forthcoming Annual General Meeting (AGM).
The total dividend for the financial year 2023-24 aggregates to 330% i.e. ₹6.60 per equity share of ₹2 each (including an interim dividend @ 200% i.e. ₹4.00 per equity share of ₹2 each declared by the board in February 2024.)
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The results came after the close of the market hours. Shares of DCM Shriram Ltd ended at ₹1,016.00, up by ₹48.65, or 5.03% on the BSE.
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