Interim Dividend of Rs. 5/Share: November 27, Record Date; Buy To Reap The Deal?

Pearl Global Industries is an international end-to-end clothing provider and supplier that was founded in 1987. The apparel maker and exporter Pearl Global Industries Limited (PGIL) operates in the US, UK, Spain, Vietnam, Indonesia, Bangladesh, Hong Kong, and India. Pearl Global Kaushal Vikas Limited, Pearl Global Fareast Limited, and Pearl Global (HK) Limited are among PGIL's subsidiaries.

Pearl Global Industries Dividend

The Board of Directors "Declared interim dividend of Rs. 5/- per Equity Share i.e. 100% on face value of Rs. 5/- each for the financial year 2024-25. Such Dividend will be paid within 30 days from the date of declaration to those Members entitled thereto," said the company in a stock exchange filing.

Pearl Global Industries Dividend Record Date

"Please refer to our letter dated November 12, 2024, wherein we have inadvertently mentioned Friday, November 22, 2024, as the record date for the purpose of determining entitlement of the Members for payment of Interim Dividend. In this regard, we further inform that the record date is November 27, 2024 for the purpose of determining entitlement of the Members for payment of Interim Dividend 2024-25," said Pearl Global Industries in a regulatory filing.

Pearl Global Industries News

"We would like to inform that the Trading Window for dealing in securities of the Company shall continue to remain close for all insiders including designated persons and their immediate relatives till November 29, 2024, considering the record date (November 27, 2024) for the Interim Dividend declared by the Board of Directors in its meeting held on November 12, 2024," Pearl Global Industries informed stock exchanges.

Pearl Global Industries Financials

In the September 2024 quarter, the company's revenue from operations was Rs 287.06 crore, rising 31.38% from the September 2023 quarter's revenue of Rs 218.50 crore. In Q2FY25, its net profit was Rs. 11.57 crore, growing 866.94% from Q2FY24's Rs. 1.20 crore. EBITDA increased by 79.81% from Rs. 14.36 crore in the September 2023 quarter to Rs. 25.82 crore in the September 2024 quarter.

Pearl Global Industries Share Price Target

Mandar Bhojane - Technical & Derivative Analyst at Choice Broking said, "PGIL is exhibiting strong bullish momentum, currently trading at 1175.75 levels. The recent breakout above the crucial resistance at 1100 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors. Additionally, PGIL is trading above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, further affirming its bullish stance. The momentum indicator, Relative Strength Index (RSI), is at 71.76 levels."

"For traders, keeping an eye on the strong support near 1085 levels is advisable, as a breach of this level could signal a shift in sentiment. Overall, PGIL current technical setup suggests a favourable environment for further upside potential, provided traders and investors remain vigilant to potential reversals and closely monitor key support and resistance levels. Based on the above analysis we recommend buying PGIL and the CMP of 1175.75 with a stop loss of 1085 for the target of 1255," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.