Rs 5/Share Dividend Declared: Multibagger PSU Under Steel Ministry Reports Fall In Q4 PAT

Miniratna public sector undertaking MSTC Ltd today declared its financial results and recommended final dividend of Rs 5.00 per equity share for the financial year 2023-24. Last trading price of MSTC Ltd share on BSE is Rs 963.30 per share with intraday gain of 0.83%. MSTC Ltd shares offered shareholders highly attractive return of 122% in last 6-months and gained 19% in last 2-weeks span. The PSU on May 27, 2024 declared its profit after tax (PAT) for the March 2024 quarter at Rs 19.50 crore, down 74.36% as against Rs 76.05 crore announced in the same quarter of last year. More details below:

MSTC Recommends Dividend: The Board of Directors of the Company has, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company, recommended final dividend of Rs. 5.00 per equity share, (i.e. 50 % on the paid-up equity share capital) for the Financial Year 2023-24. The final dividend would be paid within 30 days from the date of its declaration at the 59th AGM of the Company. The final dividend is in addition to the Interim Dividends paid for the financial year 2023-24. The record date for payment of final dividend shall be intimated in due course."

MSTC Financial Results: The company for the whole year declared its PAT at Rs 171.91 crore for March 2024, down 28.14% as against Rs 239.22 crore for March 2023. The PSU today declared its revenue from operations at Rs 81.93 crore for the quarter ended March 31, 2024 as against Rs 90.97 crore declared in the corresponding quarter of las year. Total income of MSTC for the March 2024 quarter declared at Rs 203.05 crore, up 55.58% as against Rs 130.51 crore declared in the similar quarter of last year. Total expenses of MSTC for the quarter under consideration declared at Rs 135.24 crore from Rs 23.74 crore announced in March 2023 quarter. The EPS of MSTC for March 2024 quarter declared at Rs 2.77 from Rs 10.80 in March 2023.

MSTC Ltd Dividend History: MSTC declared 10 dividends since September 16, 2020. In last 1 year, MSTC Ltd. announced equity dividend amounting to Rs 13.70 per share. At the current share price of Rs 963.30, MSTC Ltd.'s dividend yield is 1.42%.

MSTC Ltd Share Performance: The 52-week high price of MSTC share on BSE is Rs 1165.00 apiece (as on 31/01/2024) and 52-week low price is Rs 300.60 apiece (as on 30/05/2023), respectively. MSTC shares surged 46% year-to-date, soared 215% in last 1-year, and gained a whopping 848%.

MSTC About: MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. Government of India has 64.75% share holding in the company. It was incorporated as "Metal Scrap Trade Corporation Limited", under the provisions of the Companies Act, 1956 on September 9, 1964 at Kolkata.

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