Rs 31/Share Dividend Recommended: Large Cap Company Reports 196 Cr Net Loss

Board of directors of large cap company operating in diversified sector, Piramal Enterprises Ltd on Friday declared Rs 31 per share dividend. Shares of the company witnessed a decline of 2.87% on BSE to end at Rs 735.55 per share. The company declared a net loss of Rs 196 crore for the quarter ended March 31, 2023. It announced a net profit of Rs 109 crore in the year ago period.

Presently, the stock of the company declined 38% from 52-week high price of Rs 1202.73 per share.

Piramal Enterprises consolidated revenue from operations witnessed a dip of 9% to Rs 2,132 crore in Q4 FY23 as against Rs 2,347 crore declared in Q4 FY22.

"We are pleased with our resilient performance amid macroeconomic and geopolitical headwinds. India continues to remain a relative "bright spot" in the world and will likely contribute significantly to global growth in the coming years," said Ajay Piramal, Chairman, Piramal Enterprises Ltd.

"In Retail, we have achieved substantial growth and this business now contributes to 50% of our AUM. We are consciously pivoting to a technology-led multi-product strategy to continue building a large diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth," added Ajay Piramal.

Dividend: According to the BSE filing of the company, "The Board has recommended a Final Dividend of Rs. 31/- (Rupees Thirty-One) per equity share of face value of Rs. 2/- each (i.e. @ 1550%) for the financial year ended 31st March, 2023, which shall be paid/dispatched after the 76th Annual General Meeting, subject to approval of the shareholders of the Company."

Stock Performance: Last trading price of Piramal Enterprises is Rs 735.55 per share on BSE. The stock's 52-week high price is Rs 1202.73 per share and 52-week low price is Rs 630.20 per share, respectively.

Its market capitalisation is Rs 17,554.91 crore. The stock declined 36% in last 1-year, 25% in last 2-years, and gave return of 40% in last 3-years.

About Piramal Enterprises: Piramal Enterprises Ltd. (PEL) is a leading diversified Non-Banking Financial Company (NBFC) registered with Reserve Bank of India (RBI), with presence across retail lending, wholesale lending, and fund-based platforms. The company has investments and assets worth ~$10 billion, with a network of over 300 branches across 25 states/UTs.