Home/ Markets / Stock Markets/  Ambika Cotton Mills recommends 350% dividend, Q4 net profit tumbles 61% YoY

Ambika Cotton Mills is a small cap textile company that recorded a market cap of 863.50 Cr during Friday's closing session. The stock ended the day on a red note after delivering poor quarterly performance. 

“The Board has recommended a Final Dividend of Rs.35/- (350%) per equity share on the face value of Rs.10/- each," said Ambika Cotton Mills in a stock exchange filing.

The company reported net sales of 186.22 crore in the quarter ended March 2023 down 28.47% from Rs. 260.35 crore in the quarter ended March 2022. The company reported a net profit of Rs. 18.13 crore in Q4FY23, down from Rs. 46.70 crore in Q4FY22 by 61.18%. The EPS of Ambika Cotton dropped from Rs. 81.57 in March 2022 to Rs. 31.67 in March 2023.

The shares of Ambika Cotton Mills closed today on the BSE at 1508.30 down by 1.62% from the previous close of 1533.10. The stock touched a 52-week-high of 1,953.55 on (03/06/2022) and a 52-week-low of 1,310.50 on (28/03/2023). During Q4FY23, the company reported promoters shareholding of 50.17%, FIIs stake of 3.06%, DIIs stake of 0.09% and public stake of 46.68%.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 26 May 2023, 07:34 PM IST
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