Small cap stock declares ₹20 per share dividend, scrip hit 52-week-low

HIL Limited, a flagship business of the CK Birla Group and the largest producer and retailer of fibre cement roofing in the world, was founded in 1946. The corporation counts of 21 cutting-edge production facilities in India, two manufacturing locations in Germany and Austria, and a network that spans India and more than 80 other nations. The company disclosed Q3 earnings and a market worth of ₹1,815.00 Cr on Friday. It also declared a dividend of ₹20 per share.

HIL Limited informed stock exchanges on Friday that its Board of Directors has approved and “Declared interim dividend of Rs. 20/- per equity share of Rs. 10/- each (i.e. 200%) for the financial year 2022-23. Fixed Monday, February 6, 2023 as record date and the said interim dividend will be paid to those members whose name appears in Register of Members (both physical & electronic mode) as on Record date. Payment of the said interim dividend will be processed within 30 days from the date of declaration.”

On a consolidated basis, the company reported revenue from operations of ₹767.17 crore in December 2022 as against Rs. 821.44 crore in December 2021, registering a fall of 6.60% YoY. In Q3FY23, the firm reported a consolidated net profit of Rs. 12.53 crore, down from Rs. 34.15 crore in Q3FY22 or a loss of 63.30% YoY. In Q3FY23, total expenses fell by 4% YoY to ₹749.55 crore from the ₹780.13 Cr recorded in the same period last year. HIL EPS dropped to Rs. 16.65 in December 2022 from Rs. 45.49 in December 2021.

After touching a new 52-week-low of ₹2,320.00, on Friday, the shares of HIL Limited closed on the NSE at ₹2,422.95 apiece, down by 4.00% from the previous close of ₹2,523.90. The stock recorded a total volume of 44,620 shares compared to the 20-Day average volume of 16,829 shares. The stock has dropped 43.47% over the last year, and on a year-to-date basis, it has fallen 7.95% so far in 2023. The stock touched a 52-week-high of ₹4,524.95 on (27-Jan-2022), indicating that after hitting a fresh 1-year low on Friday, the shares of HIL Limited were trading at a discount of 46% from its 52-week-high level. At Friday's closing price the stock was seen trading below 5, 10, 20, 50, 100 and 200 days Simple Moving Average (SMA).