Mid cap stock Maharashtra Scooters declares ₹60 per share dividend, record date fixed

Mid-cap company Maharashtra Scooters closed today's trading session with a market worth of ₹5,291.43 Cr. Bajaj Holdings and Investment Limited's subsidiary Maharashtra Scooters Limited is listed on both the BSE and the National Stock Exchange of India. The company's existing manufacturing operation entails the manufacturing of pressure die casting dies, castings, jigs, and fixtures, particularly for the two- and three-wheeler industries among other sectors.

“Kindly further note that final dividend of Rs. 60 per share (600%) of face value of Rs. 10 each on equity shares of the Company has been recommended by the Board of Directors today for the financial year ended 31st, March 2023. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited / dispatched on 28 July 2023 and / or 29 July 2023. Further, pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the record date for the purpose of determining the members eligible to receive the dividend for the financial year ended 31st March 2023, has been fixed as Friday, 30 June 2023,” said Maharashtra Scooters in a stock exchange filing.

The company recorded a total revenue from operations of Rs 9.24 crore during Q4FY23, down by 10.90% YoY from Rs 10.37 crore recorded during Q4FY22. The company’s net expenses stood at Rs 8.02 crore during the quarter ended March 2023 compared to ₹8.18 Cr recorded during the year-ago quarter. Maharashtra Scooters said its net profit stood at ₹0.82 Cr during Q4FY23, down by 47.77% YoY from ₹1.57 Cr during Q4FY22. The EPS of Maharashtra Scooters reached ₹0.72 during the quarter ended March 2023 as compared to ₹1.37 in the year-ago quarter.

The shares of Maharashtra Scooters closed today on the NSE at ₹4,650 apiece level, up by 1.58% from the previous close of ₹4,577.45. The stock recorded a total traded volume of 7,439 shares compared to the 20-Day average volume of 2,761 shares. The stock touched a 52-week-high of ₹5,602.00 on (15-Nov-2022) and a 52-week-low of ₹3,369.15 on (13-May-2022).