Rs 10.25/Share Dividend: Small Cap Auto Ancillaries Stock Soars 79% In 1-Yr

Small cap company from the auto ancillaries sector, India Nippon Electricals Ltd shares declined 1.74% in trade today. Last trading price of India Nippon shares on BSE is Rs 664.70 apiece. Board of Directors of the company today announced an interim dividend of Rs 10.25 per share of Rs 5 each for the financial year 2023-24. India Nippon shares rallied 52% in last 6-months and gained 79% in last 1-year. Check details below:

India Nippon Declares Interim Dividend: As per the BSE filing of the company dated February 13, 2024, "Board of Directors at their meeting held today, declared an Interim Dividend of Rs.10.25 (Rupees Ten and twenty-five paise only) per fully paid-up equity share of Rs.5 each, for the financial year 2023- 24."

India Nippon Sets Record Date For Interim Dividend: The BSE further said, "The interim dividend will be paid/ dispatched within the due date to allthe shareholders whose names appear in the Register of Members as on the Record Date. The Board of Directors fixed the Record Date as February 23, 2024 for this purpose."

India Nippon Q3 Results: The company for the quarter ended December 2023 declared its consolidated net profit at Rs 12.08 crore as against Rs 13.56 crore declared in the corresponding quarter of last year. Its revenue from operations for December 2023 quarter announced at Rs 178.86 crore as compared to Rs 156.19 crore in the similar quarter of last year. Meanwhile, total expenses declared at Rs 167.48 crore for the quarter under review from Rs 147.68 crore in the similar quarter of last year.

India Nippon About: India Nippon Electricals Limited was incorporated in 1984 and converted into a joint venture in 1986 between Lucas Indian Service Limited, a wholly-owned subsidiary of Lucas-TVS Limited and MAHLE Electric Drives Japan Corporation, Japan - a company of MAHLE Group, Germany, to manufacture Electronic Ignition Systems for two-wheelers, three wheelers and portable engines. Over the years the company has enlarged its customer base and now supplies to most of the manufacturers of two-wheelers, three wheelers and gensets, according to its official website.

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The stock highlights the dividend, Q3 results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.