Newly listed Prudent Corporate Advisory shares to turn ex-dividend. Details here

Dividend paying stock: After listing at a premium amid weak stock market sentiment, Prudent Corporate Advisory Services Ltd has now soomn going to tune ex-dividend stock. The board of directors of the newly listed company has recommended a dividend of Re 1 per equity share for the financial year 2021-22. This dividend recommendation subject to approval of shareholders at the ensuing Annual General Meeting (AGM) of the company.

In its latest exchange communication, Prudent Corporate Advisory Services Ltd informed about the development citing, "The Board of Directors have recommended dividend of Rs. 1/- (Rupees one only) per equity share of face value of Rs. 5/- each for the financial year ended March 31, 2022, subject to approval of shareholders at the ensuing Annual General Meeting of the Company."

The date of next Annual General Meeting, the record date to determine the eligibility of shareholders for payment of dividend and the date of payment will be intimated separately.

The company board also considered and approved the audited standalone and consolidated financial results of the Company for the fourth quarter and year ended March 31, 2022.

Prudent Corporate Q4 results

FY2022 has been another year in which India’s retail mutual funds AUM continued its growth trajectory. With its constant focus on technological-based platforms and reach, Prudent Corporate Advisory Services Ltd further increased its market share in terms of its Equity-based AUM. The revenue from mutual funds and insurance distribution increased by 62 per cent YoY in FY2022. Additionally, Mutual Funds Distributors (MFDs) empaneled with the Company also rose to an all-time high of 23,763, which is the key organizational backbone behind the Company’s growth trajectory.

Commenting on Prudent Q4 results, Sanjay Shah, Chairman and Managing Director, at Prudent Corporate Advisory Services Ltd said, “FY2022 has demonstrated an outstanding performance both on Revenue and Profitability front. Our 60% YoY growth in AUM to Rs. 49,473 Crore has helped us deliver an impressive YoY growth number of 57% in Revenue. Our long-trusted relationship-building practice, a highly personalised approach to our clients, and cutting-edge technological platforms have helped us propel our customer base numbers. With 14 lacs+ clients and 37 Lacs+ live folios, we are increasingly expanding our market share each passing year. Along with profitability, our cash flow generation strength is further fortifying our ability to grow at a brisk pace here on. With a broad-based recovery taking shape in the economy, we expect an increased inflow of funds and consistent growth in our AUM in the coming quarters.”

Here we list out top 5 key highlights:

1) Revenue Mix: Revenue from Distribution of Mutual Funds: Insurance: Others stood at 86:8:6 in FY2022 versus 83:10:7 in FY2021.

2) EBITDA for FY2022 increased by 86% YoY, and margins too improved by 400 bps YoY.

3) Equity AUM increased by 69% YoY in FY2022.

4) The number of MFDs empanelled with the Company as of FY2022 is 23,763 (FY2021 16,853).

5) SIP AUM as a percentage of Equity AUM for the Company remained healthy at 42%, with active live SIPs at 16.37 lacs.