Rs 140/share Dividend Announced: Large Cap Auto Stock Net Profit Dips 2.5%

Bajaj Auto's fourth quarter standalone net profit was declared at Rs 1432.88 crore, down 2.5% for FY 2023. It was declared 1468.95 crore during the same quarter last year. Board of directors of Bajaj Auto also approved/recommended a dividend of Rs 140 per share.

However, the company's revenue surged for the quarter ended March 2023 to Rs 8904.7 crore, up 12% as compared to Rs 7975 crore announced in the same quarter last year.

Revenues fell 4% from Rs 9,315 crore in the preceding December quarter on a sequential basis, according to reports.

It is worth noting that the company's EBITDA maintained its strong run, growing 26% YoY to Rs 1,718 crore, with margin accretion of 220 bps to 19.3 percent. Sequentially, across quarters, price realisation and material costs held flat with favourable mix driving the slight uptick, it said.

Stock Performance: Last trading price of Bajaj Auto share is Rs 4343.10 per share with intraday gain of 0.17%. The stock's 52-week high price is Rs 4375.00 per share and 52-week low price is Rs 3461.30 per share, respectively. The large cap auto stock has a market capitalisation of Rs 1,22,891.21 crore.

Return: The stock gave return of 16% in last 3-months, 18% in last 6-months, 17.62% in last 1-year, 18% in last 2-years, and 77% in last 3-years.

Dividend & Record Date: According to the BSE filing of the company, "In line with the Company's Dividend Distribution Policy, the Board of Directors has approved I recommended a dividend at the rate Rs.140 per share (1400%) of face value of Rs. 1 0 each on equity shares for the financial year ended 31 March 2023. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around 28 July 2023."

The company fixed June 30, 2023 as the record date for the dividend.