Bharat Dynamics to pay bumper interim dividend

The board of directors of Bharat Dynamics approved the payment of interim dividend for FY21. 

The record date for payment of the interim dividend of Rs 6.70 per share with a face value of Rs 10 is set as March 20, 2021. The company also mentioned in the press release that the process of payment of the interim dividend will be completed on or before April 10, 2021. 

Bharat Dynamics had previously received an order amounting to Rs 372.98 crore towards the supply of MRSAM missile rear sections for Indian Air Force deliverables and will be executed in lots on or before November 30, 2023. 

For Q3FY21, the net sales of the company on a standalone basis declined by 8.85 per cent YoY to Rs 451.56 crore while net profit fell by 7.49 per cent YoY to Rs 49.19 crore in Q3FY21. 

Bharat Dynamics Limited is one of India's manufacturers of ammunitions and missile systems. 

On Friday, the stock of the company closed at Rs 362.70, up by 0.75 per cent or by Rs 2.70 per share. The 52-week high is Rs 481.25 while its 52-week low is Rs 147 on BSE.