Irrigation & Allied Services Stock Declares 150% Dividend; FIIs Increase Stake; Do you Own?

KSB Ltd Declares Dividend: Mid-cap firm working in Irrigation & Allied Services sector, KSB Ltd declared Rs 15.00 per fairness share dividend for the monetary 12 months ended December 31, 2022.

Despite being a debt-free firm, it has declared a 150 per cent dividend for its eligible shareholders. The firm has mentioned in a inventory change submitting that the Board of Directors has permitted “The advice of fee of Dividend of INR 15.00 (150 per cent) per fairness share on 3,48,07,844 fairness shares (Face Value INR 10 every totally paid up) for the monetary 12 months ended on thirty first December, 2022 and the identical shall be payable topic to approval of the shareholders on the ensuing Annual General Meeting of the Company. Register of Members and Share Transfer Books of the Company will stay closed from thirtieth April, 2023 to eleventh May, 2023 (each days inclusive) for the aim of Annual General Meeting and fee of Dividend, to be declared.”

The last trading price of the stock is Rs 1851.10 apiece with 52-week high at Rs 2,171.00 apiece and 52-week low at Rs 050.65 apiece, respectively. The stock rallied 1.44 per cent in last 6-months, 80 per cent in last 1-year, and 162 per cent in last 3-years.

KSB Limited is one of the leading pumps and valves manufacturers in India. During Q3FY23, the company reported revenue from operations of Rs 524.60 Cr on a consolidated basis, up by 18 per cent YoY from Rs 444.60 Cr in Q3FY22. The company said its net expenses reached Rs 462.30 Cr compared to Rs 401.10 Cr recorded in the year-ago quarter. KSB Ltd said its net profit reached Rs 55.90 Cr in Q3FY23, up by 41.87 per cent YoY from Rs 39.40 Cr in Q3FY22. The EPS of KSB Ltd stood at Rs 18.06 in the quarter ended December 2022 compared to Rs 11.32 in the quarter ended December 2021.

During Q3FY23, KSB Ltd reported a promoter shareholding of 66.69 per cent, FIIs stake of 3.23 per cent, DIIs stake of 10.85 per cent and a public stake of 19.21 per cent. Promoters holding of KSB Ltd remains constant at 66.69 per cent, FII/FPI lifted stake from 3.17 per cent in the quarter ended September 2022 to 3.23 per cent in the quarter ended December 2022 and mutual funds have lowered stake from 8.08 per cent in Q2FY23 to 8.05 per cent in Q3FY23.

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