Debt free company declares ₹15 per share dividend, FIIs ups stake in Q3
KSB Ltd is a mid-cap company having a market cap of ₹6,443.28 Cr and the company deals in the industrial sector.
KSB Ltd is a mid-cap company having a market cap of ₹6,443.28 Cr and the company deals in the industrial sector. KSB Limited is one of the leading pumps and valves manufacturers in India. Despite being a debt-free company, it has declared a 150% 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 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."
During Q3FY23, the company reported revenue from operations of ₹524.60 Cr on a consolidated basis, up by 18% YoY from ₹444.60 Cr in Q3FY22. The company said its net expenses reached ₹462.30 Cr compared to ₹401.10 Cr recorded in the year-ago quarter. KSB Ltd said its net profit reached ₹55.90 Cr in Q3FY23, up by 41.87% YoY from ₹39.40 Cr in Q3FY22. The EPS of KSB Ltd stood at ₹18.06 in the quarter ended December 2022 compared to ₹11.32 in the quarter ended December 2021.
The shares of KSB Ltd closed today on the BSE at ₹1851.10 apiece, down by 0.04% from the previous close of ₹1851.90. In the last 1 year, the stock has gained 91.96% and on a YTD basis, it has fallen 2.92% so far in 2023. The stock touched a 52-week-high of ₹2,171.00 on (13/10/2022) and a 52-week-low of ₹959.65 (24/02/2022). KSB Ltd holds a debt-to-equity ratio of zero marking it a debt-free company and in fact an undervalued stock compared to its peers with a P/E ratio of 38.8, lower than its sector PE ratio of 49.1.
During Q3FY23, KSB Ltd reported a promoter shareholding of 66.69%, FIIs stake of 3.23%, DIIs stake of 10.85% and a public stake of 19.21%. Promoters holding of KSB Ltd remains constant at 66.69%, FII/FPI lifted stake from 3.17% in the quarter ended September 2022 to 3.23% in the quarter ended December 2022 and mutual funds have lowered stake from 8.08% in Q2FY23 to 8.05% in Q3FY23.
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