Honda India Power declares ₹16.50 per share dividend, Q4 PAT slides 62% YoY

During Friday's closing session, Honda India Power Products, a small cap firm, registered a market worth of ₹2,499.71 Cr. Honda India Power Products Limited (HIPP), a division of Honda Motor Co. Japan, is the top manufacturer of power products in India. It was founded on September 19, 1985. The Board of Directors at their Meeting held on May 12, 2023 have declared Q4 results along with a dividend for FY23.

“The Board of Directors at the aforesaid Meeting has recommended a Dividend of Rs. 16.50 per equity share of the Company for the Financial Year ended March 31, 2023. The said Dividend shall be paid to the shareholders on September 05, 2023,” said Honda India Power Products in a stock exchange filing.

The company has reported a total income of Rs.318.28 crores during the quarter ended March 31, 2023 as compared to Rs.326.73 crores during the quarter ended March 31, 2022, representing a fall of 2.59% YoY. During Q4FY23, the net profit of the company reached ₹5.81 Cr down by 62.71% YoY from ₹15.58 Cr during Q4FY22. Honda India Power Products said its EPS stood at ₹5.73 during the quarter under review, down by 62.70% YoY from ₹15.36 recorded during the year-ago quarter. 

On Friday, the shares of Honda India Power Products closed on the NSE at ₹2,480 down by 1.31% from the previous close of ₹2,512.95. The stock touched a 52-week-high of ₹2,918.00 on (05-Dec-2022) and a 52-week-low of ₹1,322.35 on (12-May-2022). During Q4FY23, Honda India Power Products recorded promoters shareholding of 66.67%, FIIs stake of 1.72%, DIIs stake of 13.45%, and a public stake of 18.17%.