1:2 Stock Split, Dividend 100%, Net Soars 52.56%: Engineering Stock Soars 1576% In 3-Yrs

Small cap company operating in engineering sector, Elecon Engineering Company shares zoomed 9.89% on April 19, 2024 soon after it declared 100% dividend, approved 1:2 stock split and declared surge of 52.56% in its net profit. Last trading price of Elecon Engineering Company share on BSE is Rs 1166.60 per share. Elecon Engineering Company shares offered traders eye-popping returns of 162% in last 1-year only and a massive 1576% in last 3-years. Check details about these latest announcements:

Elecon Engineering Company Declares Dividend: The exchange filing of the company issued on April 19, 2024 announced, "The Board of Directors has recommended Final Dividend of Rs. 2.00/- (i.e. 100%) per Equity Share of Rs. 2.00/- each for the financial year 2023-24."

Elecon Engineering Company Announces Stock Split: As per the BSE filing of the company dated April 19, "the Board of Directors has approved sub-division of the equity shares of face value of Rs. 2.00 /- each into 2 equity shares of the face value of Rs. 1.00/- each."

Elecon Engineering Company Share Performance & Return: The 52-week high price of Elecon Engineering Company share on BSE is Rs 1197.55 per share (as on 19/04/2024) and 52-week low price is Rs 407.55 per share (25/04/2023), respectively. Its market capitalisation stood at Rs 13,089.25 crore. The PE of Elecon Engineering Company stood at 47.50. Elecon Engineering Company shares gave return of 20% in just last 1-week, soared 39% in 1-month, offered return of 162% in last 1-year, and surged 1753% in last 5-years.

Elecon Engineering Company Financial Results: The consolidated net profit of the company zoomed 52.56% to Rs 103.65 crore for Q4 FY 2024 as against Rs 68 crore declared in the corresponding quarter of last year (Q4FY23). The revenue for the Q4 FY24 declared at Rs 565 crore, up 33.0% as against Rs 425 crore declared in the similar quarter of last year.

Profit before tax surged 62.01% to Rs 136.24 crore for the quarter under review as compared to Rs Rs 84.09 crore announced in the similar quarter last year.

The company's EBITDA jumped 45.8% YoY to Rs 135 crore, up 45.8% as against Rs 93 crore declared in the similar quarter of last year. EBITDA margin improved by 210 basis points YoY basis to 24%.

Prayasvin B. Patel, Chairman & Managing Director of Elecon Engineering Co. Ltd. said, "we are delighted to share that Elecon has delivered its highest ever revenues of Rs. 1,937 crs up by 27% Y-o-Y and highest ever PAT of Rs. 356 crs indicating a growth of 50% Y-o-Y for FY24 which is a testament to our commitment to innovation and customer needs. This growth is largely attributable to increased order inflows across industries, increase in wallet share among existing customers & new customer addition. Our across industries, increase in wallet share among existing customers & new customer addition. Our industrial gear segment."

Elecon Engineering Dividend History: The company declared 24 dividends since August 14, 2001. In last 12 months, Elecon Engineering Company announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 971.65 apiece, Elecon Engineering Company offers a dividend yield of 0.26%.

Bonus Share History: Elecon Engineering Company offered 1 bonus issue since October 10, 2007. Its last bonus issue was declared in the ratio 2:1 with ex-date fixed as October 10, 2007.

Stock Split History: Elecon Engineering Company split the face value once since October 17, 2006. Elecon Engineering Company last split the face value of its shares from Rs 10 to Rs 2 in 2006.The share traded ex-split from October 17, 2006.

Disclaimer: The stock highlights the dividend, stock split 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.