BSE 500 Stock: Rs 5/Share Dividend Declared; Buy To Place Your Stake For The Eligibility?

A division of Whirlpool Corporation, Whirlpool of India Ltd. is one of the top kitchen and laundry companies in the world. With its main office located in Gurugram, it is among the largest manufacturers and sellers of home appliances in the nation. The company owns three production sites in Pune, Pondicherry, and Faridabad. The company has released its financial results for the quarter and year that ended on March 31, 2024, and it has recommended a dividend of Rs 5 per share.

Whirlpool of India Dividend

"Pursuant to Regulation 30 and 43 of the Listing Regulations, we wish to inform you that the Board of Directors of the Company at its meeting held today have recommended Final Dividend of Rs. 5.00 per equity share of the face value of Rs. 10/- each 50% for the financial year 2023-24. The date for holding the 63rd Annual General Meeting for the financial year ended 31st March, 2024 and the book closure dates of the Company will be intimated in the due course," said Whirlpool of India in a regulatory filing.

Whirlpool of India Financials

Compared to Rs 63.71 crore in the January-March quarter of the previous fiscal year, Whirlpool of India Ltd. recorded a 24.7% increase in consolidated net profit to Rs 79.45 crore in the month of March. Whirlpool's revenue from operations increased 3.66 per cent to Rs 1,734 crore in the quarter under review, compared to Rs 1,672.65 crore in the same period of the previous fiscal year. In comparison to the previous year, Whirlpool of India's consolidated net profit for FY24 was untouched at Rs 224.30 crore, or Rs 224.01 crore. Whirlpool of India's revenue from operations for FY24 increased by 2.43 per cent to Rs 6,829.8 crore.

Mr Narasimhan Eswar, Managing Director, Whirlpool of India Limited said, "Our strategy of focusing on the consumer, creating product leadership across our categories, delivering cost productivity across every line of the P&L and relentlessly driving executional excellence while always keeping ROI centre stage is delivering results for growth and market share".

Whirlpool of India Share Price Target

"The American multinational manufacturer and marketer of home appliances Whirlpool Corporation has recently garnered the attention of many investors. The stock's current momentum hints at a potential dip buying opportunity, creating a buzz in the market. Interested individuals may consider entering the stock at the buying range of Rs. 1470- 1500 against the current market price of Rs. 1556. Based on the company's fundamentals and current momentum, I recommend holding this stock for 2-10 weeks for a targeted price of Rs. 1620-1850. However, I would urge them to set a stop loss at Rs. 1390 and adhere to it to avoid any major loss," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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