Active Stocks
Tue May 21 2024 15:59:52
  1. Tata Steel share price
  2. 174.30 3.81%
  1. NTPC share price
  2. 371.90 1.50%
  1. Power Grid Corporation Of India share price
  2. 325.45 2.71%
  1. Tata Motors share price
  2. 951.15 -0.19%
  1. State Bank Of India share price
  2. 830.55 1.18%
Business News/ Markets / Stock Markets/  Debt free company declares 15 per share dividend, FIIs ups stake in Q3
BackBack

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.

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.Premium
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.

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed - it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
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).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Feb 2023, 09:04 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started