Mukul Agrawal Portfolio Stock To Trade Ex-Dividend Today: Do You Own?

Raymond Ltd is a mid-cap company that deals in the consumer discretionary sector. The Raymond Group is a diverse organisation with a primary focus on the textile and apparel businesses, as well as consumer products, real estate, and engineering in both domestic and foreign markets. The company has declared a final dividend of Rs 3 per share for FY23, and in order to determine the eligibility of the shareholders for the purpose of dividend the company has fixed 23rd June 2023 as the record date. However, due to the T+1 settlement mechanism of the company, the stock is going to trade ex-dividend today.

"The Board of Directors have recommended payment of dividend of 30% on the Equity share capital i.e. Rs. 3 (Rupees Three only) per equity share of the face value of Rs.10 (Rupees Ten) each for the financial year ended March 31, 2023, subject to approval of the shareholders at the ensuing 98th Annual General Meeting. The dividend, if approved by the shareholders will be paid on or after Tuesday, July 11, 2023," said Raymond in a stock exchange filing.

For the quarter that ended in March, Raymond Ltd recorded a consolidated net profit of Rs 194.35 crore, a drop of 26 per cent from the Rs 263.31 crore in Q4FY22. Consolidated revenue from operations for the firm grew 9.8% to Rs 2,150.18 crore during the quarter ended in March 2023, from Rs 1,958.10 Cr in the same quarter of FY22. In the financial year FY23, the firm recorded its highest-ever sales and EBITDA, at Rs. 8,337 Cr and Rs. 1,322 Cr, respectively.

The textile business generated Rs 901.79 crore in revenue for Raymond in the March quarter, while the apparel segment brought in Rs 331.54 crore and the garments segment pulled in Rs 305.40 crore during Q4FY23. In the engineering business, Raymond's revenue from its tools and hardware division was Rs 115.49 crore, while the revenue from real estate and property development in the March quarter fell 9.97% to Rs 289.16 crore. Raymond's net profit for the fiscal year that ended on March 31, 2023, or FY23, jumped to Rs. 536.96 crore from Rs 265.12 crore in FY22. From Rs 6,178.51 crore in FY22 to Rs 8,214.72 crore in FY23, its consolidated revenue from operations grew by 32.95%.

On Thursday, the shares of Raymond closed on the BSE at Rs 1672.35 apiece down by 3.35% from the previous close of Rs 1730.35. The stock made a 52-week-high of Rs 1,785.00 on (19/06/2023) and a 52-week-low of Rs 797.00 on (23/06/2022). During Q4FY23, the company recorded a promoters' shareholding of 49.15%, FIIs stake of 16.72%, DIIs stake of 5.10% and a public stake of 29.03%. As per the shareholding pattern of Raymond for January to March 2023 quarter, ace investor Mukul Mahavir Agrawal held fully paid-up equity shares of 11,98,018 or 1.80% stake in the company.