Rs 2.20/Share Dividend Declared: 84-Yrs Old Small Cap Tata Co Reports 7.7% Rise In Net

Small cap Tata Group company NELCO Ltd. today declared Rs 2.20/share dividend and declared a rise of 7.77% in its net profit to Rs 6.10 crore for the quarter ended March 2024. Last trading price of NELCO Ltd share on BSE is Rs 807.45 per share with intraday gain of 1.77%. The company has a market capitalisation of Rs 1842.47 crore. NELCO shares gave return of 332% in last 3-years. More details below:

NELCO Recommends Dividend: As per the exchange filing of the company dated April 23, 2024, "We would like to inform that the Board of Directors has recommended a final dividend of Rs. 2.20/- per share (22%) (face value of Rs. 10 each) for the financial year ended 31st March 2024 subject to the approval of the shareholders at the ensuing Annual General Meeting."

NELCO Announces Re-appointment of P.J. Nath As Managing Director & CEO: The BSE filing added, "On the recommendation of the Nomination and Remuneration Committee, the Board, at its meeting held today, approved the re-appointment of Mr. P.J.Nath (DIN: 05118177) as the Managing Director & CEO of the Company from 13th June 2024 to 28th February 2027 subject to approval of the shareholders of the Company."

NELCO Q4 Results: The company declared a surge of 7.77% in its net profit to Rs 6.10 crore for the quarter ended March 2024 as compared to Rs 5.66 crore reported in the corresponding quarter of last year. Sales declined marginally by 0.45% to Rs 81.61 crore for the quarter ended March 2024 as compared to Rs 81.98 crore declared in the similar quarter of last year. For full year, NELCO announced its net profit zoomed 19.24% to Rs 23.67 crore for the year ended March 2024 as compared to Rs 19.85 crore last year ended March 2023. Sales jumped 2.22% to Rs 320.30 crore for the year ended March 2024 as against Rs 313.33 crore from March 2023.

NELCO Share Performance & Return: The 52-week high price of NELCO share on BSE is Rs 894.00 per share (as on 13/07/2023) and 52-week low price is Rs 530.50 per sahre (as on 24/04/2023), respectively. NELCO Ltd shares gave return of 7% in just 1-week, soared 14% in last 1-month, offered return of 51% in last 1-year, and rallied 332% in last 3-years. In last 10-years, NELCO offered whopping returns of 1797%.

About: Nelco, a part of US $ 116 Bn Tata group, started in 1940 as a revolutionary electronics company and has had many firsts to its name over the years. The Company has aligned its businesses and has set new goals for itself. Nelco is focused on helping its enterprise & government customers unlock potential by offering solutions in the areas of VSAT connectivity, Satcom Projects and Integrated Security & Surveillance Solutions, according to its official website.

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