Hindustan Aeronautics, the largest defence PSU stock, has announced final dividend of Rs 13 per share for FY24. The company also fixed the record date for the same. In a board meeting held on June 26, HAL also received approval for raising its authorized share capital. Accordingly, HAL share price will be in focus. The highest target price on HAL is of Rs 6,145 fixed by Antique Stock Broking.
Hindustan Aeronautics Dividend:
On June 26, HAL announced final dividend of Rs 13 per share having a face value of Rs 5 each fully paid up for the Financial Year 2023-24, which shall be paid to the eligible shareholders within 30 days from the date of its approval in AGM. In percentage terms, the payout is of 260%.
The record date for the payment of final dividend for the financial Year 2023-24, if approved by the shareholders in the ensuing AGM, will be Wednesday, the 21st August, 2024.
This dividend payout will be in addition to the interim dividend of Rs 22 per share for which HAL turned ex-dividend on February 20, 2024. This interim dividend is highest ever payout by HAL, and also the first payout since the stock turned ex-split in September 2023. Together, HAL will pay dividend of up to Rs 35 per share for FY24.
HAL share price turned ex-split in September 2023, in the ratio of 2:1, meaning that 1 equity share with a face value of Rs 10 each was sub-divided into two shares with a face value of Rs 5 each.
Since 2022, HAL has delivered a hefty dividend of Rs 113 per share till February 2024. In FY23, HAL paid dividend of Rs 55 per share. Since March 2019, HAL has delivered up to 11 dividends so far.
HAL Authorized Capital:
The board approved to increase the authorized Share Capital of the Company by Rs 100 crore to Rs 700 crore from Rs 600 crore.
HAL Share Price:
On BSE, HAL share price traded at Rs 5283 apiece, down by 1.60% with market cap of Rs 3,53,313.83 crore. The stock's 52-week high and low is at Rs 5,585.65 piece and Rs 1,767.95 piece respectively.
YTD, HAL shares zoomed by 87% on BSE. In a year, the stock gained by 189%, emerging as multibagger.
Currently, Antique Stock Broking has fixed target price of Rs 6,145 on HAL with BUY recommendation. This signals a potential of over 16% upside in HAL.
HAL recorded the highest ever revenue from operations of over Rs 29,810 crores (provisional and unaudited) for the financial year ended on March 31, 2024 registering a double digit growth of around 11% as against 9% in the previous financial year. The corresponding figure for the previous year was at Rs. 26,928 crores. HAL received fresh manufacturing contracts of over Rs 19,000 crores and ROH contracts of over Rs 16,000 crores during FY 2023-24.
HAL with a robust order book and accelerated delivery plan is expected to sustain and improve the growth trajectory and support the Indian Defence services in their endeavor towards Defence preparedness of the country.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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