Nelco Overview
On April 23, the board of directors of Nelco Ltd, a small-cap Tata group company, recommended a final dividend of Rs 2.20 per share, marking the highest dividend declared by the company since 2001. As of the current trading session, NELCO shares are priced at Rs 727.50 per share on BSE, reflecting an intraday gain of 1.23%. The company has set June 10, 2024 as the record date for this dividend. In the last three years, NELCO shares have provided a return of 193% and a return of 2.21% over the last year.
NELCO has announced its upcoming dividend record date. According to a regulatory filing dated May 21, 2024, under Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), the registration of members and share transfer books of the company will close on June 11, Tuesday. 2024, to Monday, June 17, 2024, inclusive. This closure is to determine the shareholders eligible for the dividend, subject to tax deduction, if it is approved at the Annual General Meeting scheduled for Tuesday, June 25, 2024. The record date for the dividend is set for June 10, 2024.
NELCO reported a 7.77% increase in net profit for the fourth quarter of FY2024, from Rs 5.66 crore in the same quarter of the previous year to Rs 6.10 crore. However, sales declined marginally by 0.45% to Rs 81.61 crore from Rs 81.98 crore in Q4 of FY2023. For the full fiscal year, net profit rose 19.24% to Rs 23.67 crore, up from Rs 19.85 crore in the previous year. The company’s annual sales rose 2.22% to Rs 320.30 crore for FY2024, compared to Rs 313.33 crore for FY2023.
As per NELCO’s BSE filing dated April 23, 2024, the board of directors has proposed a final dividend of Rs. 2.20 (22%) per share for the financial year ending March 31, 2024. This recommendation is awaiting shareholders’ approval at the forthcoming Annual General Meeting.
Regarding the stock performance of NELCO, the 52-week high on BSE is Rs. 894.00 per share (reached on July 13, 2023), and the 52-week low is Rs. 647.65 per share (as on June 4, 2024). market capitalization stands at Rs. 1,660.04 crore. Year-to-date, NELCO shares are down more than 9%, but they have delivered returns of more than 6% over the past two years and have gained 146% over the past five years. Over a decade, NELCO stock has gained 1179%.
Disclaimer: This information emphasizes dividends and does not recommend buying, selling or holding stocks. We have not performed fundamental or technical analysis and do not express any opinion on the stocks mentioned. Neither the author nor Granium Information Technologies will be held responsible for any damages. Please seek the advice of a professional advisor.
