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Business News/ Markets / Stock Markets/  Small cap automobile stock sets record date to pay 30 per share dividend: Should you buy?

Fiem Industries is a small cap company that recorded a market cap of 2,411.21 Cr during Tuesday's closing session. One of India's top producers of sheet metal, plastic, rearview mirrors, signalling equipment, and automotive lighting is Fiem Industries Limited (FIEM). To pay Rs. 30/- per share dividend for FY 2022-23, the company has fixed record date in order to determine the eligibility of the shareholders. 

“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended, the Register of Member and Share Transfer Books of the Company will remain closed from July 22, 2023 to July 28, 2023 (both days inclusive) for taking record of the Members of the Company for the purpose of Final Dividend at the rate of Rs. 30/- per share for Financial Year 2022-23, and Annual General Meeting to be held on July 28, 2023 at 10.30 am. The final dividend, if declared at the AGM, will be paid or dividend warrants/DDs will be dispatched to the shareholders on or before August 14, 2023," said FIEM Industries said in a stock exchange filing.

In Q4FY23, the company's total sales were 432.84 crore, down from 483.52 crore in Q4FY22. The firm said that its automotive segment sales for Q4FY23 were 431.39 crore, down from 481.95 crore in Q4FY22, while its other segment sales, which include LED luminaries and other products, were 1.45 crore, down from 1.57 crore in the same quarter last year.  PAT climbed by 18.91% in Q4FY23 compared to Q4FY22. In comparison to PAT of 32.00 Crore in Q4FY22, PAT for Q4FY23 was 38.05 Crore.

When compared to FY 21–22, the company's sales climbed 17.74% in FY 22–23. Sales for the fiscal year 22-23 was 1834.04 crore, up from 1557.72 crore in the prior year. PAT jumped by 46.58% in the FY 22–23 compared to the FY 21–22. In comparison to PAT of 95.26 Crore in FY 21-22, PAT for FY 22-23 was 139.63 Crore.

MNCL Research has assigned a target price of 2100 Fiem Industries and has recommended to buy the stock considering the key risks of slowdown in ICE/ EV 2W sales.

On Tuesday, the shares of FIEM Industries closed on the BSE at 1832.25 apiece down by 0.55% from the previous close of 1842.45. The stock touched a 52-week-high of 2,084.60 on (01/12/2022) and a 52-week-low of 926.00 on (30/05/2022). 

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Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for (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: 30 May 2023, 05:54 PM IST
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