NALCO to consider 2nd interim dividend next week, Board fixes record date

National Aluminium Company Limited (NALCO) is a mid-cap company with a market capitalization of ₹15,143 Cr that operates in the aluminium sector. National Aluminium Company Limited (NALCO) is a Schedule 'A' Navratna CPSE that was founded on January 7, 1981 and is headquartered in Bhubaneswar. The company, which is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in the country, announced that it will consider a second interim dividend for the fiscal year 2022-23 next week, with a record date set for the same.

“We would like to inform that, Tuesday, the 21st March, 2023 has been fixed as ‘Record Date’ for payment of 2nd interim dividend for the financial year 2022-23 (If approved by the Board of Directors in their meeting scheduled to be held on 13.03.2023). 2nd Interim Dividend will be paid to those shareholders whose names appear: a. as beneficial owners as at the end of the business on 21.03.2023 as per the beneficial owners position to be downloaded by NSDL and CDSL in respect of the shares held in the electronic form and b. as members in the Register of Members of the Company, after giving effect to transmission/transposition if any, in physical form lodged with the Company on or before 21.03.2023” said NALCO in a regulatory filing.

For the fiscal year ended March 2022, National Aluminium Company declared an equity dividend of 130.00% at a face value of ₹5 per share, taking the total to ₹6.5 per share. At the current share price of ₹82.60, this equates to a dividend yield of 7.86%. National Aluminium Company Ltd. has declared 43 dividends since August 22, 2000, according to Trendlyne data, and in the last 12 months, National Aluminium Company Ltd. has announced an equity dividend of ₹2.50 per share. This results in a dividend yield of 3.02% at the current share price of ₹82.60.

The consolidated profit of the state-owned National Aluminum Company Ltd (Nalco) fell by 69% to ₹256.32 crore in the fiscal quarter ended December 31, 2022, from ₹830.67 crore recorded in the same quarter of FY22. The company's consolidated income fell 12.71% year-on-year to ₹3,356.30 crore in Q3FY23, from ₹3,845.25 crore in Q3FY22. NALCO's earnings per share (EPS) fell from Rs. 4.52 in December 2021 to Rs. 1.40 in December 2022.

The shares of NALCO closed today on the NSE at ₹82.60 apiece, down by 1.90% from the previous close of ₹84.20. The stock recorded a total volume average of 71,17,864 shares compared to the 20-Day volume average of 9,956,835 shares. In the last 1 year, the stock has fallen 32.49% and on a YTD basis it has fallen 1.31% so far in 2023. The stock touched a 52-week-high of ₹132.40 on (06-Apr-2022) and a 52-week-low of ₹66.95 on (28-Sep-2022). During Q3FY23, the company recorded a promoter shareholding of 51.28%, FIIs stake of 15.05%, DIIs stake of 12.49% and a public stake of 21.17%. 

According to Trendlyne's data, promoters' holdings remained constant at 51.28% in the Dec 2022 quarter, while FII/FPI raised their holdings from 14.69% in the Sept 2022 quarter to 15.05% in the Dec 2022 quarter, the number of FII/FPI investors risen from 287 in the Q2FY23 to 298 in the Q3FY23, mutual funds lowered their holdings from 10.79% in the Q2FY23 to 9.89% in Q3FY23, and institutional investors raised their stake in NALCO from 27.27% in Q2FY23 to 27.54% in Dec 2022 quarter.