VIP Industries To Trade Ex-Dividend Tomorrow On 7th Feb: Buy/Sell Or Hold?

Tomorrow, on Wednesday, February 7, V.I.P. Industries, a mid-cap company in the consumer discretionary sector, will go ex-dividend. For the financial year 2023-2024, the firm has announced an interim dividend of 100% with a face value of Rs. 2/-per share. Wednesday, February 7th has been set as the record date for this dividend.

VIP Industries Dividend

"We wish to inform you that the Board of Directors at its meeting held today at 2.00 p.m. and concluded at 3:30 p.m. declared the Interim Dividend of Rs. 2/- (Rupees Two) per equity share of face value of Rs. 2/- each for the Financial Year 2023-24 (100%). The Interim Dividend for the Financial Year 2023-24 shall be paid on or after 16th February, 2024. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Wednesday, 7th February, 2024 as the "record date" for the purpose of ascertaining the eligibility of shareholders for payment of the Interim Dividend," said VIP Industries in a stock exchange filing.

VIP Industries Financials

For the December quarter of FY24, VIP Industries recorded a consolidated net profit of Rs 7.15 crore, which is 83.78 per cent less than the Rs 44.10 crore reported in the same period of the previous fiscal year. The company said in a regulatory filing that its total revenue jumped by 4% to Rs 546.4 crore in Q3FY24 from Rs 526.4 crore in Q3FY23. Consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) for VIP Industries came in at Rs 52.3 crore, a 28% drop. Compared to 13.9 per cent in the same period last year, the EBITDA margin was 9.6% in the quarter under review.

VIP Industries Share Price Target

VIP Industries is sideways to bullish on the Daily charts with strong resistance at 552. A Daily close above this resistance could lead to a target of 620 in the near term. Strong support will be at 513, said AR Ramachandran from Tips2trades.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.