Dividend of Rs 8/Share: August 23 Fixed As Record Date; Buy/Sell The NBFC Stock?

One of India's most reputable bond houses, A K Capital Services is a broad financial behemoth with expertise in the fixed-income market segment of the country's capital market. The firm provides a broad range of services in the following areas: project financing, venture capital, retirement trust solutions, broking & distribution, and debt capital market.

A K Capital Services Dividend

The Board of Directors "Recommended the final dividend of 80% i.e. INR 8/- per fully paid up equity share (face value of INR 10/- per equity share) for the financial year 2023-24, subject to approval by shareholders of the Company at the ensuing Annual General Meeting (AGM). The Company will inform in due course the date on which the Company will hold AGM for the year ended March, 31, 2024 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders," the company said in a regulatory filing.

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, determined Friday, August 23, 2024 as the "Record Date" for the purpose of ascertaining the eligibility of the shareholders for the payment of final dividend if approved at the ensuing AGM. Further, pursuant to Section 91 of the Companies Act, 2013 and Rule 10 of the Companies (Management and Administration) Rules, 2014 read with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and the Share Transfer Books of the Company will remain closed from Saturday, August 24, 2024 to Saturday, August 31, 2024 (both days inclusive)," A K Capital Services further informed to the stock exchanges.

A K Capital Services Financials

In the March 2024 quarter, the firm had net sales of Rs. 35.07 crore, up 22.08% from Rs. 28.73 crore in the same quarter of 2023. The company's net profit increased by 5.31% to Rs. 8.97 crore in Q4FY24 from Rs. 8.51 crore in Q4FY23. In the quarter ended March 2024, EBITDA increased by 40.61% to Rs. 24.79 crore from Rs. 17.63 crore in the quarter ended March 2023. Net profit for the entire year grew to Rs 91.71 crore in the year that ended in March 2024 from Rs 87.63 crore in the year that ended in March 2023, a rise of 4.66%. Sales climbed by 27.57% to Rs 518.54 crore in the fiscal year that ended in March 2024 compared to Rs 406.46 crore in the fiscal year that ended in March 2023.

A K Capital Services Share Price Target

"A top SEBI registered Category-I Indian Merchant Banker A. K. Capital Services Ltd's core fundamentals and market performance have piqued the interest of many investors. The company delivered a return of 122.06% in a year and offered a dividend income of 1.46%, indicating strong financial standing and performance. Additionally, the company's current PE of 7.72 is lower than the sector PE of 8.5, adding to its appeal. I recommend entering this stock at the Rs. 830-900 price level for a target price of Rs. 1050/1130/1200/1250. Individuals may consider holding the stock for a period of 30-120 days while strictly following the suggested stop loss of Rs. 740 at all times," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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