Dividend Stocks: Bhatia Communications Announces Q4 Results; Dividend Declared

Speciality retail stock Bhatia Communications & Retail has announced to reward the shareholders with a final dividend for the FY 2023-24. The company made the announcement via exchange filing on May 29.

Bhatia Communications announces its Q4FY24 & FY24 results. Net profit of Bhatia Communications & Retail (India) rose 4.20% to Rs 2.98 crore in Q4FY24 as against Rs 2.86 crore during Q4FY23. Sales rose 14.02% to Rs 93.91 crore in Q4FY24 as against Rs 82.36 crore during Q4FY23.

For the full year, net profit remains constant at Rs 8.49 crore in FY24 and also during FY23. Sales remain constant at Rs 342.42 crore in FY24 and also during FY23.

The board of directors in a meeting held on Wednesday recommended a final dividend of Re 0.01 per equity share having a face value of Rs 1 to the shareholders for the financial year 2023-24. The final dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the company and the final dividend, if approved by the shareholders, will be paid within the prescribed timeline, the company said in a statement.
The company has a market cap of Rs 262 crore with a multibagger returns of 203.48 per cent in the last three years. The promoters of the company bought 2,46,000 shares and increased their stake to 73.85 per cent in March 2024 compared to 73.66 per cent in March 2023. In March 2024, FIIs took a fresh entry and bought a 0.08 per cent stake in the company.

Earlier, according to the quarterly results, the net sales increased by 20.4 per cent to Rs 116.79 and the net profit increased by 1.22 per cent to Rs 2.49 in Q3FY24 compared to Q3FY23. According to the nine-month results, the net sales increased by 27.31 per cent to Rs 319.88 crore and the net profit increased by 51.70 per cent to Rs 8.54 crore in 9MFY24 compared to 9MFY23. According to its annual results, net sales increased by 34.27 per cent to Rs 313.48 crore and net profit increased by 61 per cent to Rs 8.48 crore in FY23 compared to FY22.

Bhatia Communications & Retail (India) Ltd is engaged in the retail and wholesale distribution business of mobile handsets, tablets, data cards, mobile accessories, mobile-related products, home appliances and other electronic items. The company has strong partnerships with various companies like Apple, One Plus, Samsung, Vivo, Oppo, Realme, Mi, Motorola, Techno, Nothing, Noise, Boat, HP, Lenovo, Fire Boltt, etc. The company has an average of Rs 8 to Rs 10 lakhs of capex per store with 172 stores across India (160 owned and 12 franchise).