Rs 12.75/Share Dividend: Ex-Date In 1 Day On 10th April; Buy To Be Eligible?

As of Monday's BSE closing session, Vesuvius India, a small-cap company in the capital goods category, has left a market valuation of Rs 7,024 Cr. The equity shares of Vesuvius India Limited, a subsidiary of Vesuvius Group Limited, the United Kingdom, are listed on the National Stock Exchange and the Bombay Stock Exchange. The firm now operates four factories: two in Visakhapatnam, one in Kolkata, one in Mehsana, and one in Salem.

The factories in Visakhapatnam produce monolithic, pre-cast forms, and taphole clay; the factories in Mehsana produce crucibles for the non-ferrous sector; and the factories in Kolkata produce Continuous Casting Refractories, which include sliding gate equipment and porous plugs. Basic monolithic for tundish use is supplied by the Salem production facility. On Monday, the shares of Vesuvius India ended 0.75% higher at Rs 3460.80 apiece on BSE. The stock recorded a 52-week-high level at Rs 3,955.00 on (23/11/2023) and a 52-week-low level at Rs 1,613.05 on (03/05/2023).

Vesuvius India Dividend

The Board of Directors of the company at its meeting held on February 9, 2024, "Recommended dividend for the Financial Year ended on December 31, 2023 of Rs. 12.75/- (Rupees Twelve and Seventy Five Paise Only) per equity share of Rs. 10/- each. Fixed, Thursday, April 11, 2024, as the Record Date, for purpose of determining those members who will be entitled to receive dividend which shall be paid after the approval of the members at the ensuing Annual General Meeting of the Company scheduled to be held on Thursday, April 18, 2024," said Vesuvius India in a regulatory filing.

Vesuvius India Financials

Vesuvius India's net profit increased 106.48% to Rs 57.07 crore in the quarter that ended in December 2023 from Rs 27.64 crore in the quarter that ended in December 2022. Sales climbed 19.34% from Rs 346.19 crore in Q3FY23 to Rs 413.15 crore in Q3FY24. Net profit jumped 82.33% YoY to Rs 212.94 crore in the year that ended in December 2023 from Rs 116.79 crore in the year that ended in December 2022. In comparison to the previous year ended December 2022, when sales were Rs 1335.21 crore, they increased 19.17% to Rs 1591.21 crore in the year ended December 2023.

Vesuvius India Share Price Target

"Trading above is 20 and 200 ENAs and looking good for swing trade opportunity. We can consider buying at a court price range of 3400 to 3410 and can expect targets ranging from 3510 to 3700. Keep stop loss at 3340. The holding period will be 1 to 3 months for these targets," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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