Highest-Ever Dividend of Rs 51/Share Recommended: What Should Investors Do With The BSE 500 Stock?

APAR Industries is a diversified, billion-dollar corporation with operations in more than 140 nations. It is a reliable source for conductors, specialty oils, polymers, lubricants, and a broad range of cables. The BSE 500 company, which ranks third globally in transformer oil production and is the world's largest maker of aluminium and alloy conductors, has announced its highest-ever dividend recommendation of Rs 51 per share for FY24.

APAR Industries Dividend

The Board of Directors "Recommended Dividend @ Rs. 51 /- (510%) per equity share of Rs. 10/- each fully paid on the equity share capital of Rs. 401,683,150/- (40,168,315 equity shares of Rs. 10/- each) for the financial year 2023-24. This shall be paid subject to the approval by the members at the ensuing Annual General Meeting of the Company," said APAR Industries in a regulatory filing.

"The Board of Directors of the Company at its meeting held on 14th May, 2024, recommended final dividend for the financial year ended 31st March, 2024 at Rs. 51/- per share (face value Rs.10/- per share) on 4,01,68,315 Equity shares aggregating to Rs. 204.86 crore. This will be paid after approval by members at the ensuing Annual General Meeting," the company further informed the stock exchanges.

APAR Industries Financials

Apar Industries' net profit for the quarter ending March 2024 was Rs 236.22 crore, down 2.68% from Rs 242.73 crore in the year-ago quarter. Sales in Q4FY24 climbed 9.36% to Rs 4432.57 crore from Rs 4053.34 crore in Q4FY23. The fourth quarter of FY24 had a 3% YoY increase in EBITDA at Rs 457 crore, while the total FY24 EBITDA increased by 25% to Rs 1,632 Cr.

Net profit for the entire year surged by 29.38% to Rs 825.11 crore in the fiscal year that ended in March 2024 from Rs 637.72 crore in the fiscal year that ended in March 2023. Sales for the year ended March 2024 improved 12.54% to Rs 16045.15 crore from Rs 14257.84 crore in the year prior ended March 2023.

APAR Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "APARINDS demonstrates a promising uptrend, evident in its formation of higher highs and higher lows, indicative of bullish momentum. Currently trading at 8220 levels, the stock enjoys robust support around 7700, in close proximity to its 20-day Exponential Moving Average (EMA), reinforcing its upward trajectory. Moreover, APARINDS maintains positions above significant moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs, highlighting its underlying strength and positive sentiment."

"Investors holding positions from lower levels are advised to consider profit booking at the current market price while implementing a trailing stop loss strategy near the support levels of 7700 to safeguard gains. Additionally, the stock exhibits potential for further upside, with a target price projection of 8700 and beyond. With its bullish technical setup and favourable market conditions, APARINDS presents an attractive opportunity for investors seeking exposure to a fundamentally sound stock poised for continued growth," 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.