275% Payout In FY23: Tata Mutual Fund Backed Stock To Mull Final Dividend Soon For FY24

As of Tuesday's BSE closing session, Kirloskar Pneumatic Company, a small-cap business in the capital goods category, has a market valuation of Rs 4,814.26 Cr. One of the major companies in the Kirloskar group is Kirloskar Pneumatic Company Limited (KPCL), which was founded in 1958 by Shantanurao Kirloskar. offering a variety of products such as industrial gearboxes, process gas systems, air compressors, air conditioning and refrigeration systems and vapour absorption systems.

KPCL provides services to several industries, including railways, food and beverage, oil and gas, steel, cement, defense, and marine. On Tuesday, the shares of Kirloskar Pneumatic Company ended 3.09% higher at Rs 743.25 apiece after the company's announcement of the Board of Directors' meeting which will take place on April 25, 2024 to consider the final dividend for FY24. The stock marked a 52-week-high level at Rs 758.00 on (02/03/2024) and a 52-week-low level at Rs 541.95 on (03/11/2023).

Kirloskar Pneumatic Company News

"Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we wish to intimate that a meeting of the Board of Directors of the Company, is scheduled to be held on Thursday, April 25, 2024 to inter alia consider and approve the Audited Financial Results for the quarter and year ended on March 31, 2024 and recommendation of final dividend, if any, to the equity shareholders.

The trading window for dealing in securities of the Company has been already closed from April 1, 2024 as communicated earlier vide our letter No. SEC&LEG/950 dated March 29, 2024 and shall remain closed till Saturday, April 27, 2024 in terms of the 'Code of Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and Immediate Relatives of Designated Persons of Kirloskar Pneumatic Company Limited' pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 including amendment(s), if any," said Kirloskar Pneumatic Company in a regulatory filing.

Kirloskar Pneumatic Company Dividend History

Kirloskar Pneumatic Company has announced a 275.00% equity dividend, or Rs 5.5 per share, at a face value of Rs 2 for its financial year ended in March 2023. This translates to a dividend yield of 0.74% at the current share price of Rs 743.25. The company has a strong dividend history and has consistently handed out dividends totalling Rs 18.2 during the last five years.

Since August 7, 2000, Kirloskar Pneumatic Company Ltd. has issued 23 dividends, according to Trendlyne statistics. At its meeting held on January 24, 2024, the company's Board of Directors announced an interim dividend for the financial year 2023-2024 at Rs. 2.50 per equity share with a nominal value of Rs. 2/-per share or 125 per cent. The record date for this dividend was set for Tuesday, February 6, 2024.

Kirloskar Pneumatic Company Shareholding Pattern

During the quarter ended December 2023 or Q3FY24, the company's promoter shareholding was 38.93%, FIIs stake reached 1.28%, DIIs stake stood at 32.30% and public stake was 27.50%. According to Trendlyne's data, the company's promoters' holdings dropped from 38.98% in the September 2023 quarter to 38.93% in the December 2023 quarter; FII/FPI's holdings climbed from 1.14% in Q2FY24 to 1.28% in Q3FY24; mutual funds' holdings grew from 27.30% to 30.07%; and institutional investors' holdings bumped from 32.89% to 33.58%. As per the shareholding pattern of Kirloskar Pneumatic Company available on BSE, Tata Small Cap Fund held 35,55,001 shares or 5.49% stake in the company during Q3FY24.