Home/ Markets / Stock Markets/  MP Birla Group stock recommends 30% dividend for FY23, scrip up over 150% in 1 year: Do you own?

Universal Cables is a small cap company that recorded a market cap of 1,310.27 Cr. Universal Cables Limited (UCL) a MP Birla Group company is a leader in the Indian Cable Industry.

The Board of Directors have “Recommended Dividend of 3.00 per share (i.e. 30%) on 3,46,95,381 equity shares of face value of 10/- each of the Company for the financial year 2022-23, subject to the approval of the Shareholders in the ensuing Seventy-Eighth (78th) Annual General Meeting of the Company," said Universal Cables in a stock exchange filing.

The company has reported a total income of Rs.583.83 crores during the quarter ended March 31, 2023 as compared to Rs.597.52 crores during the quarter ended March 31, 2022, down by 2.29% YoY. During Q4FY23, its net profit reached 41.05 Cr up by 31.92% YoY from 31.12 Cr in Q4FY22. Universal Cables said its Q4FY23 EPS stood at 11.83 up by 31.74% YoY from 8.98 in the year-ago quarter.

The company has reported a total income of Rs.2219.57 crores during the financial year ended March 31, 2023 as compared to Rs.1833.03 crores during the financial year ended March 31, 2022, up by 21.09% YoY. During FY23, its net profit reached 118.15 Cr up by 57.69% YoY from 74.92 Cr in FY22. Its EPS surged 57.64% YoY from 21.60 during 12MFY22 to 34.05 in 12MFY23.

The shares of Universal Cables closed today on the NSE at 382 apiece down by 4.98% from the previous close of 402. In the last 1 year the stock has given a multibagger return of 159.78% and on a YTD basis it has rallied 7.41% so far in 2023. The stock touched a 52-week-high of 424.90 on (18-May-2023) and a 52-week-low of 125.10 on (20-Jun-2022).

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).
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Updated: 19 May 2023, 07:08 PM IST
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