Ambika Cotton Mills recommends 350% dividend, Q4 net profit tumbles 61% YoY
1 min read 26 May 2023, 07:34 PM ISTAmbika Cotton Mills is a small cap textile company that recorded a market cap of ₹863.50 Cr during Friday's closing session.
PremiumAmbika 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%.
