Rs 6.50 dividend per share: Stock locked in upper circuit post Q4FY24 performance!
The stock has experienced significant buying activity, yielding returns of more than 80 per cent in the last one year.
Today, the shares of Bharat Forge Limited touched an upper circuit of Rs 1,364.20 apiece on BSE, with the company's current market capitalization standing at 65,547.20 crore.
Stock performance:
On Wednesday, the stock opened at Rs 1242, with the previous closing being Rs 1240.20. The 52-week high and low are Rs 1,446.55 and Rs 753.10, respectively as per BSE.
Recent Development - Q4FY24 Highlights:
The company's consolidated net profit for the quarter ending March 31, 2024, saw a substantial 78 per cent increase compared to the same period last year, reaching Rs 227 crore as opposed to Rs 127.74 crore. EBITDA increased by 25.1 per cent to Rs 654 crore, leading to EBITDA margins of 28.1 per cent in Q4 FY24. Similarly, the revenue from operations during this quarter amounted to Rs 4,164 crore, reflecting a 15 per cent increase from Rs 3,629 crore in the previous year.
Other highlights:
The board of directors of Bharat Forge has recommended a final dividend of Rs 6.50 per share for the fiscal year ending March 31, 2024. This dividend is set to be distributed on or after August 14, 2024.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
About the Company:
Bharat Forge Limited is a renowned technology and engineering-driven development partner, recognized globally as a leader in metal forming. With a diverse portfolio, it caters to various sectors such as Automotive, Railways, Aerospace, Marine, Oil & Gas, Power, Construction, and Mining. The company specializes in the manufacturing and sale of forged and machined components, including aluminum castings, serving both the automotive and industrial sectors.
The geographical distribution of operations reveals that the majority of business activities are concentrated in the USA, accounting for 45.56% of the total, followed by India with 38.52%. Europe constitutes a smaller yet significant portion, representing 15.92% of the company's operations. No significant operations are recorded in Asia, North America (excluding the USA and Canada), or the rest of the world.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 80 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.