Mid Cap IT Stock To Consider Dividend On May 2 Again, Shares Down 6.85% In 30-Days

Mid cap IT-Software sector company Coforge Ltd shares witnessed 0.55% decline in trade today on Tuesday. Current market price of Coforge shares on BSE is Rs 6208.55 per share. The company has a market capitalisation of Rs 38,368.77 crore. Coforge shares gained 50% in last 1-year and 128% in last 3-years. The company informed on March 11 about its upcoming meeting of Board of Directors to consider proposal of dividend payment and financial results scheduled to be held on May 2, 2024. Check details below:

Coforge To Consider, Approve Financial Results, Dividend On May 2: As per the BSE filing of the company dated March 11, 2024, "the meeting of Board of Directors of the Company is scheduled to be held on Thursday, May 02, 2024, inter alia, to consider and approve the audited consolidated and standalone financial results of the Company for the quarter and year ended March 31, 2024. The Board of Directors will also be considering the proposal of the payment of Interim Dividend, if any, for the Financial Year 2023-24 and will determine the Record date for the purpose of the Interim Dividend, if approved."

Coforge Shares Performance & Return: The 52-week high price of Coforge stock on BSE is Rs 6840.00 per share and 52-week low price is Rs 3565.20 per share, respectively. The company has a market capitalisation of Rs 38,316.24 crore. Coforge has a PE of 41.06, ROE of 33.66, and EPS (TTM) of 152.04. Coforge shares witnessed decline of 6.85% in last 1-month, soared 6% in last 3-months, gained 44% in last 2-years, and offered return of 369% in last 5-years. In last 10-years, Coforge stock surged 1420%.

Coforge Interim Dividend In Q3: The Board of Directors at their meeting held on January 22, 2024, announced third interim dividend of Rs. 19/- (Rupees Nineteen only) per Equity Share of the Company having face value of Rs. 10/- each fully paid-up, for the Financial Year 2023-24 and February 05, 2024, has been fixed as Record Date for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend.

Coforge Q3 Results: The exchange filing of the company stated, "The Company reported strong operating and financial performance marked by robust growth, margin expansion and continued business momentum in a seasonally weak quarter." It reported revenue for the quarter at INR 23,233 million and $282 million. Revenue surged QoQ by 1.8% in constant currency, 1.4% in USD and 2.1% in INR terms and Revenue soared YoY by 12.0% in CC, 12.0% in USD and 13.0% in INR terms. The company announced EBITDA margin at 17.3%, improved by 201 bps QoQ while adjusted EBITDA margin stood at 18%, improved by 39 bps QoQ. Coforge's consolidated profit after tax (PAT) for Q3 declared at INR 2,380 million, up 31.5% Q-o-Q.

As per the BSE filing of Coforge, "Order intake was $354 million, eight consecutive quarters of $300+ million deal wins. Total order book executable over the next 12 months was at $974 million, up 15.8% YoY as 7 new clients were added during the quarter. LTM attrition at 12.1%."

Coforge About: Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises.

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