Capital Goods Stock Recommends Highest Ever Rs. 12.5/Share Dividend; Buy/Sell Or Hold?

One of the well-known producers of power and distribution transformers as well as electronics and telecom in India is Shilchar Technologies Ltd. With significant diversification in Power & Distribution transformers, Shilchar Technologies Ltd. is a top-tier transformer manufacturer serving a wide variety of industries with a production range up to 50 MVA, 132 KV class. On Tuesday, the shares of Shilchar Technologies ended 0.73% higher at Rs 6461.50 apiece after the company declared Q4 results along with a dividend recommendation of 125% at a face value of Rs 10.

Shilchar Technologies Dividend

The "Board Recommended Final Dividend of 125% (i.e. Rs. 12.5/- Per Share) on the Equity shares of Rs.10/- each to the Shareholders subject to approval of Shareholders at ensuing annual general meeting," said Shilchar Technologies in a regulatory filing.

Shilchar Technologies Q4 Results

During the quarter ended March 2024, the company reported a net income of Rs 108.90 Cr which was Rs 96.42 Cr in the quarter ended March 2023. The company's net expenses remained flat at Rs 74.74 Cr whereas EBIT stood at Rs 34.16 Cr in Q4FY24 as against Rs 21.98 Cr in Q4FY23. Its net profit reached Rs 25.02 Cr in the quarter under review compared to Rs 16.28 Cr in the same quarter of FY23.

Shilchar Technologies Share Price Target

"Shilchar Technologies stock price is bearish and also overbought with strong resistance at 6770 on the Daily charts. Investors should book profits at current levels as Daily close below support of 6000 could lead to a target of 4674 in the near term," said AR Ramachandran from Tips2trades.

Disclaimer

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