Maharatna Company BHEL Sets Record Date For Final Dividend

Bharat Heavy Electricals Ltd (BHEL) is a large-cap company holding a Maharatna CPSE status from the government of India. One of the largest manufacturing and engineering firms is BHEL.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, it is hereby informed that the Company has fixed Friday, 11th August, 2023 as the "Record Date" for the purpose of determining the eligibility of the members to receive final dividend of Rs. 0.40 per share (i.e. @ 20% on the paid up equity share capital) for the year 2022-23.

The dividend, if approved by the members at the ensuing 59th Annual General Meeting (to be held on 24th August, 2023), will be paid within 30 days from the date of declaration of dividend i.e. on or before 22nd September, 2023," said BHEL in a stock exchange filing on Monday.
Bharat Heavy Electricals has announced an equity dividend of 20.00% at a face value of Rs 2, or Rs 0.4 per share, for the financial year ended March 2023. The dividend yield at the current share price of Rs 92.71 is 0.43%. The company has a solid track record of dividend declarations during the past five years. According to Trendlyne's statistics, Bharat Heavy Electricals Ltd. has issued 36 dividends since August 27, 2001.

In the fourth quarter of FY23, BHEL reported a net profit of Rs. 611 crore, a drop of 33.04% from the PAT of Rs. 912.47 crore reported in Q4FY22. The total expenses for BHEL in Q4 FY23 were Rs 7,474.47 crore, up 5.40% from Rs 7,091.29 crore in Q4 FY22. Additionally, EBITDA for the quarter was Rs 986.2 crore, down 14.4% from Rs 1,151.9 crore in Q4FY22. In Q4 FY23, the total revenue from operations climbed by 2.05% to Rs 8,226.99 crore from Rs 8,061.68 crore in Q4 FY22. BHEL's PAT for the entire FY23 was Rs 477.39 crore as opposed to Rs 446.03 crore in FY22. In comparison to FY22, when revenue was at Rs 21,211.09 crore, FY23 saw revenue of Rs 23.364.94 crore. BHEL is yet to declare its Q1FY24 results.

On Monday, the shares of BHEL opened on the BSE at Rs 92.26. The stock made a 52-week-high of Rs 96.45 on (13/07/2023) and a 52-week-low of Rs 48.80 on (15/07/2022). During Q1FY24, the company recorded promoter shareholding of 63.17%, FIIs stake of 7.77%, DIIs stake of 16.36% and public stake of 12.71%.