Multibagger Engineering Stock To Recommend Stock Split After 18 Years, Dividend On April 19

Small cap company operating in engineering sector, Elecon Engineering Company will hold its meeting of Board of Directors on April 19, 2024 to consider financial results, recommend dividend, if any. The proposal of stock split will also be considered in the same meeting. Last trading price of Elecon Engineering share on BSE is Rs 971.65 per share with intraday fall of 2.74%. Elecon Engineering shares offered shareholders multibagger returns of 125% in last 1-year and zoomed 418% in last 2-years. Check details below:

Elecon Engineering To Consider Results, Stock Split, & Recommend Dividend, If Any: As per the BSE filing of Elecon Engineering dated April 14, 2024, "a meeting of Board of Directors is scheduled to be held on Friday, 19th April, 2024,to consider and approve the Audited Financial Results (Both Standalone & Consolidated) for the quarter & financial year ended on 31st March, 2024 alongwith related segment wise financial results and to recommend dividend, if any. This is to inform you that at the said meeting, the Board of Directors will also consider the following proposals:

a. Alteration in the share capital of the Company by sub-division/ split of existing equity shares having face value of Rs. 2/ - each, fully paid up, as may be determined by the Board of Directors."

Elecon Engineering Company Share Performance & Return: The 52-week high price of Elecon Engineering Company share on BSE is Rs 1120.50 per share and 52-week low price is Rs 407.55 per share, respectively. The company has a market capitalisation of Rs 10,901.91 crore. The PE of Elecon Engineering Company stood at 39.56. Elecon Engineering Company shares zoomed 12% in last 1-months, declined 5% in last 3-months, soared 17% in last 6-months, and offered stunning returns of 1443% in last 3-years. In last 5-years, Elecon Engineering Company shares rose 1510%.

Elecon Engineering Company Financials: Elecon Engineering Company Ltd declared Q3 FY24 where it announced a jump of 22% YoY in its consolidated revenue to Rs 474 crore. It declared that the Industrial Gear division offered significant contribution with a Q3 FY24 revenue of Rs 409 crore and an EBIT margin of 27%.

In the Material Handling Equipment (MHE) division, the company stated the Q3 FY24 revenue rose to ₹65 crore, up 8% y-o-y growth and the EBIT Margin stood at 19% highlighting an enhancement of nearly 390 basis points. It also divulged about its commitment to expanding overseas and maintaining leadership in the domestic sector.

Elecon Engineering Dividend History: The company declared 23 dividends since August 14, 2001. In last 12 months, Elecon Engineering Company announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 971.65 apiece, Elecon Engineering Company offers a dividend yield of 0.31%.

Bonus Share History: Elecon Engineering Company offered 1 bonus issue since October 10, 2007. Its last bonus issue was declared in the ratio 2:1 with ex-date fixed as October 10, 2007.

Stock Split History: Elecon Engineering Company split the face value once since October 17, 2006. Elecon Engineering Company last split the face value of its shares from Rs 10 to Rs 2 in 2006.The share traded ex-split from October 17, 2006.

Disclaimer:

The stock highlights the dividend, stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.