Interim Dividend of Rs 30: November 6 Record Date, Payable By November 18; Buy The Stock?

One of the top providers of outsourcing services worldwide is Alldigi Tech. The organisation has been a valued partner of choice for enterprises worldwide for more than 20 years. Following the company's announcement of a substantial dividend of Rs 30 per share, Alldigi Tech, a small-cap stock, closed Friday's trading session 4.41% down at Rs 972.20 per share on the BSE, with a market valuation of Rs 1,481.47 Cr.

Alldigi Tech Dividend

"The Board has declared an Interim Dividend of INR 30/- per equity share of face value of INR 10/- each for the financial year 2024-25. Record date for the purpose of payment of Interim Dividend is fixed as Wednesday, November 06, 2024. The interim dividend will be paid on or before November 18, 2024, or within 30 days from the date of declaration as per the provisions of Companies Act, 2013, through electronic mode or by dividend warrants, as applicable," said Alldigi Tech in a stock exchange filing.

Alldigi Tech Financials

Alldigi Tech's net profit dropped by 25.25% to Rs 12.14 crore in the September 2024 quarter from Rs 16.24 crore in the September 2023 quarter. Sales during Q2FY25 increased 16.97% to Rs 131.43 crore, up from Rs 112.36 crore in Q2FY24.
CEO Mr. Naozer Dalal said "We are happy to report Revenue and EBITDA growth of 17% and 21% respectively. We remain on track in migrating our customers to the new SP4 platform. We continue to make investments in the Sales team as also signed up Sales partnerships to expand our reach, which should reflect in our results in the coming quarters. This quarter also saw the our name change to Alldigi Tech Ltd seamlessly."

Alldigi Tech Share Price Target

"Alldigi Tech is bearish on the Daily charts with strong resistance at 1021. A Daily close below support of 955 could lead to a target of 873 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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