Rs 6/Share Dividend: Shall Be Credited By August 31; Buy Ahead of Record Date On July 26?

Fluid management system engineering and production are areas of competence for Kirloskar Brothers Limited (KBL), a top pump manufacturer. KBL is the parent firm of the Kirloskar Group, having been founded in 1888 and incorporated in 1920. For major infrastructure projects in the fields of water supply, power plants, irrigation, building & construction, oil & gas sector, and marine & defense, the firm offers comprehensive fluid management solutions. KBL produces hydro-turbines, valves, and pumps for home, commercial, and agricultural use.

Kirloskar Brothers Dividend

The Board of Directors "Recommended a dividend of Rs. 6/- (Rupees Six only) i.e. 300%, per equity share of Rs. 2/- each for the Financial Year 2023-24. The record date for determining the entitlement for Dividend as recommended by the Board for the Financial Year 2023-24, is Friday, July 26, 2024. The said Dividend, if declared by the shareholders at the 104th AGM, shall be paid on or before August 31, 2024, subject to deduction of tax at source as applicable," said Kirloskar Brothers in a regulatory filing.

Kirloskar Brothers Financials

Kirloskar Brothers reported a 51% year-on-year rise in net profit to Rs 153 crore for the fourth quarter of the FY24 fiscal. The profit for the firm during the same time last year was Rs 101 crore. With over 9% growth in sales, the firm reported revenue from operations of Rs 1,224 crore in Q4FY24, up from Rs 1,125 crore in the prior year. From Rs 1,001 crore in Q4FY23 to Rs 1,061 crore in Q4FY24, the company's expenses grew.
Its net profit for the entire year climbed to Rs 350 crore from Rs 235 crore in FY24, while its revenue from operations rose to Rs 4,001 crore from Rs 3,730 crore in FY23.

Kirloskar Brothers Share Price Target

"Pump manufacturing company, Kirloskar Brothers Ltd, continues to display a bullish trend in the market, which I believe is likely to prevail for some time. However, the stock is currently overvalued, paving the way for a potential breakout. Judging by the current price movement and anticipated developments, I recommended individuals wait for dip opportunities. Then again, due to the stock's strong momentum and overvaluation, they should limit their exposure to it. Those interested may consider the buying range of Rs. 1600-1650 and averaging the price near Rs. 1500 to limit exposure. However, when investing in this stock, individuals must set a strict stop loss at Rs. 1450 and adhere to it to protect their capital," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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