1:1 Bonus Share, Rs 17 Dividend Declared: Engineering Co Reports 178% Rally In March 24 Net

Board of small cap engineering sector company, Veljan Denison on Thursday declared a jump of 177.56% in its net profit to Rs 5.69 crore for the quarter ended March 2024 as compared to Rs 2.05 crore net profit announced for the corresponding quarter of last year. The Board of Directors of Veljan Denison also recommended a dividend of Rs 17/- per equity share with face value of Rs 10/- each for the financial year ended March 31, 2024. Earlier, Veljan Denison issued new record date for 1:1 bonus share that is May 27, 2024 from May 25, 2024. Current market price of Veljan Denison share on BSE is Rs 3779.00 per share with marginal intraday gain of 0.23%. Veljan Denison shares offered shareholders return of 93% year-to-date and 187% in last 1-year. More details below:

Veljan Denison Recommends Dividend: As per the BSE filing of the company dated May 23, 2024, "Pursuant to Regulation 30 of the SEBI(LODR) Regulations, 2015, this is to inform you that the Board at its' meeting held today i.e, May 23, 2024, has recommended a dividend of Rs.17/- per equity share (i.e. @170%) having face value of Rs. 10/- each for the Financial Year ended on March 31, 2024."

The above dividend, if declared by the members at the ensuing Annual General Meeting will be credited/ dispatched within 30 days from the date of declaration, added the BSE filing.

Veljan Denison Q4 Results: The company declared a jump of 20.53% in its sales to Rs 36.75 crore for the quarter ended March 2024 as against Rs 30.49 crore announced in the similar quarter of last year. For the whole, year, the net profit of Veljan Denison surged 37.77% to Rs 22.07 crore for the year ended March 2024 as compared to Rs 16.02 crore declared in the previous year ended March 2023. Meanwhile, sales jumped 14.19% to Rs 137.69 crore for the year ended March 2024 as compared to Rs 120.58 crore declared in the previous year ended March 2023.

Veljan Denison Updated Record Date For 1:1 Bonus Issue: According to the exchange filing of Veljan Denison issued as on May 22, "In continuation of our letter dated 15.05.2024, and the record date fixed for the purpose of determining the shareholders and their entitlement for issue and allotment of Bonus Shares in the ratio of 1:1 i.e., 1 (One) new fully paid-up equity share of Rs. 10/- each for every 1 (One) existing fully paid-up equity share of Rs. 10/- each held by them is changed from Saturday, May 25, 2024 to Monday, May 27, 2024."

The Bonus Shares shall be allotted to the equity shareholders whose names appear in the Register of Members/ List of Beneficial Owners provided by the Depositories as on the said date, added the BSE filing of the company.

Veljan Denison Share Performance & Return: The 52-week high price of Veljan Denison share is quoting at Rs 4,200.00 apiece (28/03/2024) and 52-week low price is quoting at Rs 1230.05 apiece (as on 31/05/2023). Its market capitalisation stood at Rs 850.28 crore. Veljan Denison shares tumbled over 5% in last 1-week, surged 186% in last 1-year, rose 240% in last 2-years, and soared 355% in last 3-years. In last 5-years span, Veljan Denison shares offered shareholders return of 399%.

Veljan Denison About: Veljan Denison Limited formerly Denison Hydraulics India Limited is an India-based company. The company is engaged in the business of manufacturing engineered fluid power components products and systems. Veljan is a pioneer Hydraulics and Pneumatics company in India and a leader in its own right.

Disclaimer:

The stock just highlights the Q4, dividend, bonus share 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 ay losses. Please consult a professional advisor.