FMCG stock to pay second interim dividend at 400%, record date next week
1 min read . Updated: 06 Feb 2023, 12:48 PM IST
Premium- The FMCG company said that record date for ascertaining the names of the members who will be entitled to receive the Second Interim Dividend is 13th February
Homegrown FMCG firm Emami Ltd's board also approved the declaration of the payment of the second interim dividend of ₹4 per share of Re. 1/- each fully paid-up i.e. 400% on the equity shares of the company for the Financial Year 2022-23 while announcing its earnings for the third quarter ended December 2022.
“we wish to inform you that the Board of Directors of the company in its meeting held today has declared payment of Second Interim Dividend of Rs. 4/- per equity share of Re. 1/- each fully paid-up i.e. 400% on the equity shares of the company for the Financial Year 2022-23. Record date for ascertaining the names of the members who will be entitled to receive the Second Interim Dividend is Monday, 13th February, 2023," the FMCG company informed in an exchange filing last week.
For Q3 FY23, the company reported an over 6% increase in its consolidated net profit at ₹233 crore as compared to ₹219.5 crore during the October-December quarter of the previous fiscal. Meanwhile, its revenue from operations rose slightly to ₹982.7 crore as against ₹971 crore year-on-year (YoY). Its domestic business grew by 1% during the quarter under review.
"During the quarter Gross margins at 65.9% contracted by 150 basis points due to inflationary pressure and a favourable portfolio mix last year. EBIDTA (earnings before interest, taxes, depreciation, and amortization) at ₹294 crore declined by 14% over the previous year due to the inclusion of new subsidiary costs, and strategic outlay on distribution expansion in rural, digital and modern trade channels.. During the quarter, demand patterns for the FMCG sector remained "sluggish", with rural markets experiencing continued demand pressure," Emami said in its earning statement.
Emami owns brands such as Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King. The shares of the company have declined 14% in a year's period.
