Rs 1.80/Share Dividend To Be Paid: Navratna PSU Net Soars 29%, Rallies 303% In 1-Yr

Mid cap construction sector public sector undertaking IRCON International shares plunged 2.21% on Friday despite declaring a healthy quarterly earnings and interim dividend. Board of Directors of IRCON International on February 9, 2024 declared an interim dividend of Rs 1.80 per equity share on the face value of Rs 2/- each for the financial year 2023-24. IRCON International announced a surge of 28.8% year-on-year (YoY) in its consolidated net profit to Rs 244.7 crore for Q3 FY24 as against Rs 190 in the corresponding quarter of Q3FY23.

IRCON International Declares Interim Dividend: As per the BSE filing of IRCON International dated Feb 8, 2024, "declared an interim dividend of Rs.1.80 per equity share on the face value of Rs.2/- each (90% of the paid-up equity share capital) for the financial year 2023-24."

The record date for the purpose of payment of Interim Dividend for the financial year 2023-24 would be Friday, 16th February, 2024. The Interim Dividend will be paid from Tuesday, 27th February, 2024 onwards.

IRCON International Q3: The strong growth in IRCON International's bottom line compared to its topline was chiefly because of its other income soaring by approximately 70% during the quarter from Rs 75.4 crore a year ago to Rs 127.7 crore for the quarter ended December 2023. The company announced its consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter ended December 2023 at Rs 378.1 crore, up 63.2% as compared to Rs 231.7 crore in the similar quarter of last year. RCON The PSU's EBITDA margin arrived at 12.6% for the quarter ended December 2023, approximately 270 basis points higher as compared to an year ago.

IRCON Shares Performance & Return: The 52-week high price of IRCON International shares on BSE is Rs 280.90 apiece and 52-week low price is Rs 50.15 apiece, respectively. The company has a market capitalisation of Rs 21,029.93 crore. IRCON shares witnessed a decline of 4% in last 1-week, 10% in last 2-weeks, soared 110% in last 6-months, soared 303% in last 1-year, and offered return of 396% in last 2-years.

IRCON International Received Navratna Status On October 12, 2023: As per the the BSE filing of the company dated October 12, "It is to inform that Department of Public Enterprise, vide its letter dated 12th October, 2023 has granted the Navratna Status to IRCON. IRCON will be the 15th Navratna amongst the CPSEs. IRCON is a CPSE under Ministry of Railways with an Annual Turnover of Rs.10,750 Crore and Net Profit of Rs.765 Crore (on Consolidated basis) and Annual Turnover of Rs.10,262 Crore and Net Profit of Rs.777 Crore (on Standalone basis) for the year 2022-23."

IRCON International About: Ircon International Limited is a central Public Sector Enterprise incorporated as a government company under the Companies Act. 1956. IRCON was set up to utilize the Indian Railway's experience in helping Developing Nations of the world to install or maintain their own railways and also to execute railway projects for private sector, as per its LinkedIn page.

Disclaimer:

The stock highlights Q3 results, dividend, 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.