Rs 27/Share Dividend: Small Cap Stock Sets Record Date For Final Dividend

During Friday's closing session, Lumax Industries, a small cap consumer discretionary firm, registered a market worth of Rs 1,982.89 Cr. One of the largest manufacturers of auto lights and suppliers to the automobile industry worldwide is Lumax Industries. The company has declared a final dividend of 270% for FY23 and for the purpose of the same record date has been finalized.

Lumax Industries Dividend

The Board of Directors of the company have recommended a final dividend of Rs. 27 /- per equity share (270%) of the face value of Rs. 10/- for the FY 2022-23 subject to the approval of shareholders in the ensuing Annual General Meeting of the company.

"The Company has revised the "Record Date" to Thursday, August 10, 2023 for ascertaining the list of shareholders eligible for Dividend for the Financial Year 2022-23 and has fixed Wednesday, August 16, 2023 as the "Cut-off Date" for the purpose of determining the members eligible to vote on the resolution(s) set out in the Notice of the AGM or to attend the AGM," said Lumax Industries in a stock exchange filing.

"If dividend on Equity Shares, as recommended by the Board, is approved at the Annual General Meeting, the payment of such dividend will be made on or before 20th September," 2023, said Lumax Industries in a stock exchange filing.

Lumax Industries has announced an equity dividend of 270.00% at a face value of Rs 10, or Rs 27 per share, for the financial year ended March 2023. This generates a dividend yield of 1.27% at the current share price of Rs 2121.25. The company has a solid track record of dividend declarations during the past five years. According to statistics from Trendlyne, Lumax Industries Ltd. has issued 25 dividends since August 25, 2000.

Lumax Industries Financials

Having a net profit of Rs 28.52 crore in the same quarter of FY22, the company reported a 27.24% decline in consolidated profit to Rs 20.75 crore for the fourth quarter ended March 2023. Revenue for the company grew by 10.69%, from Rs. 549.37 crore in the March 2022 quarter to Rs. 608.10 crore in the March 2023 quarter. EBITDA, on the other hand, dropped 15% to Rs 48.92 crore in Q4FY23 from Rs 57.44 crore in Q4FY22.

The net profit climbed by 153% YoY to Rs 103.08 crore for the fiscal year ended March 2023 compared to Rs 40.72 crore reported in the fiscal year ended March 2022. Revenue climbed 32.44% to Rs 2319 crore in the 12MFY23 fiscal against Rs 1751 crore for 12MFY22. Lumax Industries is yet to declare its Q1FY24 results.

Lumax Industries Share Price

On Friday, the shares of Lumax Industries closed on the BSE at Rs 2121.25 apiece up by 0.43% from the previous close of Rs 2112.20. The stock made a 52-week-high of Rs 2,338.00 on (14/07/2023) and a 52-week-low of Rs 1,300.00 on (02/11/2022). During Q1FY24, the company reported promoter shareholding of 75.00%, FIIs stake of 1.12%, DIIs stake of 1.03%, and public stake of 22.83%.