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

KSB Ltd Declares Dividend: Mid-cap company operating in Irrigation & Allied Services sector, KSB Ltd declared Rs 15.00 per equity share dividend for the financial year ended December 31, 2022.

Despite being a debt-free company, it has declared a 150 per cent dividend for its eligible shareholders. The company has said in a stock exchange filing that the Board of Directors has approved “The recommendation of payment of Dividend of INR 15.00 (150 per cent) per equity share on 3,48,07,844 equity shares (Face Value INR 10 each fully paid up) for the financial year ended on 31st December, 2022 and the same shall be payable subject to approval of the shareholders at the ensuing Annual General Meeting of the Company. Register of Members and Share Transfer Books of the Company will remain closed from 30th April, 2023 to 11th May, 2023 (both days inclusive) for the purpose of Annual General Meeting and payment 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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