HAL Announces Dividend Of <span Class='webrupee'>₹</span>20. Check Details Here
This is the second interim dividend declared by the company's board of director, at ₹10 each fully paid up, i.e., 200 per cent.
Hindustan Aeronautics Ltd on Friday announced that the company's board on Friday approved an interim dividend of ₹20 per equity share for financial year 2022-23.
This is the second interim dividend declared by the company's board of director, at ₹10 each fully paid up, i.e., 200 per cent.
"The Board of Directors of the company has, inter-alia, declared a second interim dividend of ₹20 per equity share of ₹10 each fully paid up (200%) for the financial year 2022-23," HAL said in a filing.
In the past 12 months, HAL has declared an equity dividend amounting to ₹30 per share, which results in a dividend yield of 1.05 per cent.
State-owned Hindustan Aeronautics Limited reported a net profit of ₹1,155.2 crore, up 23.8 per cent year-on-year as against ₹933.4 crore reported in the year-ago period. Revenue from Operations fell 3.9% to ₹5,665.5 crore in the December quarter as compared to ₹5,893.8 crore in the corresponding quarter of last year.
EBITDA or Earnings Before Interest, Taxes, Depreciation, and Amortization dropped 31% to ₹985.5 crore in Q3FY23 as against ₹1,428.5 cr YoY, with a margin of 17.4%.
Total expenses of the aerospace company rose 2% to ₹4,951 crore for the quarter under review. This was ₹4,840 crore in the corresponding quarter of last year.
ICICI Direct has recommended investors to buy large cap stock operating in Defence sector, Hindustan Aeronautics Ltd with target price of ₹3240 apiece.
"Among oscillators, the weekly RSI is inching upward while sustaining above its nine period’s average. Meanwhile, the weekly MACD is on the cusp of recording a bullish crossover, indicating acceleration of upward momentum," it said.
The brokerage expects HAL to deliver revenue and EBITDA CAGR of 10.3% and 14.8%, respectively, over FY22-25E. Further, PAT is likely to grow at 12% CAGR over the same period.
On Friday, the company's scrip was 0.44 per cent down at ₹2,849.85 on BSE.
(Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.)
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