This Miniratna PSU Declares Rs 7.50/Share Dividend, Posts 114.92% QOQ Growth In PAT

Balmer Lawrie & Co. Ltd, a public service undertaking (PSU), announces a good dividend for the year ending March 2023 and does not approve to buy back shares & issue bonus shares on Thursday after the board meeting held. It was informed through a securities exchange filing when posting the Q4FY23 results.

Q4FY23 performance

Balmer Lawrie & Co. Ltd posted a growth of 7% year-on-year (yoy) in total income from Rs 607.3248 crores to Rs 653.5844 crores in Q4FY23. The profit after tax (PAT) was flat at Rs 58.8363 crores, it was up by just 2.01% from the same period last year's PAT of Rs 57.6796 crores.

However, sequentially PAT has grown 114.92% from 27.3765 reported in December. Even the total income reported for the March quarter was up 27% from its previous quarter's income of Rs 514.5482 crores.

Dividend Details

Besides, the results, the Board of Directors at its Meeting dated 25th May, 2023 has recommended a dividend of Rs 7. 50 per equity share on 17,10,03,846 equity shares of the company for the financial year ended March 31, 2023.

The said dividend, if declared by the shareholders at the ensuing Annual General Meeting (AGM) of the company shall be paid within 30 days from the date of such declaration. But no details of record date or book closure details were shared.

About Balmer Lawrie & Co. Ltd

Balmer Lawrie & Co. Ltd is a small-cap company founded in 1876 that has been granted a Miniratna - I Public Sector Enterprise. The company is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel, and Logistics Services. It also has a significant presence in most other businesses, it operates, viz, Chemicals, Logistics Infrastructure, etc. It has a market capitalisation of Rs 2,283.76 crores.

Share Price Movement

The latest closing price of this Miniratna PSU stock is Rs133.55, it was up 1.56% over the previous day's closing price. In the last one year and three years, the share price has rallied by 19.78% and 39.41% respectively.