Highest Dividend In 2024, Stock To Split: Multibagger Small Cap FALLS 7.79% In 1-Week

After recommending highest ever dividend in more than 2 decades, small cap company from the industry of compressors, pumps, KSB Ltd approved 1:5 stock split on April 26 and yet to announce record date for the same. Current market price of KSB share on BSE is Rs 4546.45 apiece with intraday gain of 0.80%. However, KSB Ltd share witnessed decline of 7.79% in a span of 1-week. KSB shares offered traders attractive returns of 105% in last 1-year. It is worth noting that Bajaj Allianz Life Insurance Company Ltd has 2.44% stake in KSB as it holds 848,237 shares of the company. FII/FPI have increased holdings from 4.50% to 5.22% in March 2024 quarter. Number of FII/FPI investors increased from 134 to 139 in March 2024 quarter. The company has a market capitalisation of Rs 15,825.21 crore. More details below:

KSB Shares Performance & Return: The 52-week high price of KSB Ltd shares is quoted at Rs 5,185.00 per share (as on 26/04/2024) and 52-week low price is quoted at Rs 2014.65 per share (as on 13/07/2023), respectively. KSB has a PE of 76.29 and ROE of 16.65. KSB Ltd shares offered traders return of 49% in 6-months, gained over 245% in 2-years, and offered return of 411% in 3-years. In 5-years, KSB stock surged 592% and the scrip offered whopping 1271% returns in 10-years.

KSB Ltd Approves Stock Split: As per the April 26, 2024 BSE filing, "Approval of sub-division/split of 1 (One) equity share of the Company having nominal/face value of INR 10 each (Rupees Ten only), into 5 (Five) equity shares of INR 2 each (Rupee Two only), subject to approval of the Members of the Company and any other regulatory authorities, if any; and further approved consequential alteration of the Capital Clause i.e., Clause V of the Memorandum of Association of the Company, subject to the approval of the Members of the Company. (Annexure-1)."

KSB Dividend In 2024: KSB announced its highest dividend in 2024 after 23 years. As per the exchange filing of the company issued on February 28, 2024, "The recommendation of payment of Final Dividend of INR 17.5 (175%) per equity share on 3,48,07,844 equity shares (Face Value INR 10 each fully paid up) for the financial year ended on 31st December, 2023."

KSB Financials: As per the exchange filing of the company dated April 26, "The sales revenue of Q1 2024 is INR 544.2 crores which is 11.2% higher than that of the corresponding Q1 2023. The company received letter of award under PM-Kusum III Scheme of INR 63 Crores for 2500 solar water pumping. It also bagged first order for desalination project of value INR 11 Crore from KSB Saudi. Energy segment crossed INR 50 Crores order intake with highlight orders - FGD of INR 4.1 Crores from General Electric, and INR 5.6 Crores for HG pumps from Haldia Petrochemicals Ltd.

The company declared its net profit for Q1 (Jan24-March 2024) at Rs 43.1 crore as against Rs 40.00 crore declared in the corresponding quarter of last year. The net profit was declared at Rs 52.8 crore for Q4 (Oct23-Dec 23).

Prashant Kumar, Vice President of Sales and Marketing, KSB Limited said, "This quarter we have registered a steady growth in sales revenue, which is 11.2% higher than that of the corresponding Q1 2023 quarter. Our recent venture into the light water application of nuclear plant segment highlights our ongoing expansion efforts. Our solar segment has also witnessed significant growth propelling us to a future focused on introducing better and sustainable solutions."

About: KSB Limited came into existence in 1960. It is headquartered in Pune. KSB serves needs of the new and emerging India. It has invested in world class facilities and technologies where we produce centrifugal pumps and industrial valves and distribute across the Indian sub-continent. As per the official website.