Rs 1.515/Share Dividend Amounting To Rs 6 Cr: Investors Eye On April 10, But Bears Lurk; Enter?

With a significant presence in both the southern and western areas and a history since 1966, Saraswati Saree Depot Limited (SSDL) is a prominent wholesale (B2B) operator in the Indian women's apparel sector, specialized in sarees and other ethnic items. The firm sells its products in Tamil Nadu, Karnataka, Maharashtra, Goa, and other southern and western Indian states. In 2024, Saraswati Saree Depot Limited finished its initial public offering. According to CNBC TV18, the company's IPO was listed on the BSE at a 25% premium above its issue price of Rs 160 per share. On Friday, the shares of Saraswati Saree Depot ended 4.73% lower on the BSE at Rs 84.61 with a market cap of Rs 337 Cr after the Board declared an interim dividend for the financial year 2025-26.

Saraswati Saree Depot Dividend

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure requirements) Regulations 2015, we wish to inform you that the Board of Directors of the Company at their meeting held today i.e., Friday, April 4, 2025 at 12.00 P.M. inter-alia, considered, Declared and approved Interim dividend of Rs. 1.515 (15.15%) per equity share of Rs. 10/- each for the financial year 2025-26 amounting to Rs. 5,99,93,697. Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed Thursday, April 10, 2025 as the record date for determining entitlement of Members for payment of Interim dividend for financial year 2025-2," said Saraswati Saree Depot in a stock exchange filing.

Saraswati Saree Depot News

In a letter dated April 1, 2025, Mr. Nikhil Shankar Dulhani, the company's head of investor relations, presented his resignation in order to devote more time to running and supervising his family office.

Saraswati Saree Depot Financials

In the December 2024 quarter, the company's net sales were 182.14 Cr, whereas in the September 2024 quarter, they were Rs 164.75 Cr. In Q3FY25, the expenses came to Rs 169.32 Cr, whereas in Q2FY25, they were Rs 152.42 Cr. While its operating profit climbed to Rs 12.82 Cr in Q3FY25 from Rs 12.33 Cr in Q2FY25, it produced a net profit of Rs 7.88 Cr as opposed to Rs 9.57 Cr.

Saraswati Saree Depot Share Price Target

"Saraswati Saree stock price is bearish on the Daily charts with strong resistance at 90. A Daily close below support of 80 could lead to a target of 74.2 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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