400% DIVIDEND STOCK: This beauty cream manufacturer fixes record date
Emami Share Dividend 2023: Emami reported a 6.12 per cent increase in consolidated Profit after Tax (PAT) to Rs 232.97 crore for the third quarter ended December 2022 amid contraction of gross margins due to inflationary pressure.
Emami Share Dividend 2023: Homegrown FMCG firm Emami Limited has declared to pay a whopping 400 per cent dividend to its shareholders. This would be the second interim dividend that the company has announced to pay to its investors in the current financial year.
The company's board has declared to pay Rs 4 dividend per equity share to its shareholders. The face value of each share of the Emami is Re 1. "We wish to inform you that the Board of Directors of the company in its meeting held today has declared payment of Second Interim Dividend of Rs. 4/- per equity share of Re. 1/- each fully paid-up i.e. 400% on the equity shares of the company for the Financial Year 2022-23," the company said in the exchange filing.
Emami Dividend 2023 Record Date
Emami, which owns brands such as Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King, has fixed Monday, 13th February as the record date. "Record date for ascertaining the names of the members who will be entitled to receive the Second Interim Dividend is Monday, 13th February, 2023," the company said in the filing.
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Emami reported a 6.12 per cent increase in consolidated Profit after Tax (PAT) to Rs 232.97 crore for the third quarter ended December 2022 amid contraction of gross margins due to inflationary pressure. The company had posted a PAT of Rs 219.52 crore during the October-December quarter of the previous fiscal, Emami said in a regulatory filing.
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Its revenue from operations rose 1.2 per cent to Rs 982.72 crore as against Rs 971.06 crore in the corresponding period of the previous fiscal. "During the quarter Gross margins at 65.9 per cent contracted by 150 basis points due to inflationary pressure and a favourable portfolio mix last year. EBIDTA at Rs 294 crore declined by 14 per cent over the previous year due to the inclusion of new subsidiary costs, and strategic outlay on distribution expansion in rural, digital and modern trade channels," Emami said in its earning statement.
During the quarter, demand patterns for the FMCG sector remained "sluggish", with rural markets experiencing continued demand pressure, it said.
"Further, a warmer winter season across the country impacted sales even more," said Emami, adding that in the given macroeconomic context, it grew by 2 per cent and revenues by 1 per cent during the quarter, "translating into a healthy 3-year CAGR of 7 per cent compared to the pre-pandemic period". Emami's total expenses were at Rs 688.47 crore, up 9.36 per cent from Rs 629.52 crore in the year-ago period.
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