Indian public sector undertaking, BEML reported 18.2% growth in consolidated net profit to ₹157.7 crore in the fourth quarter for FY23, as against ₹133 crore in the same quarter a year ago. The PSU has also declared up to 50% dividends for its shareholders.
Sequentially, BEML’s Q4FY23 PAT has more than doubled. Compared to December 2022 quarter where PAT stood at ₹66.30 crore, the growth is about 137.84%.
EBITDA too climbed by 25% to ₹287 crore in Q4FY23, as against ₹229.6 crore in Q4FY22. EBITDA margins expanded sharply to 20.6% in Q4FY23, versus 13.6% in Q4FY22.
Consolidated revenue from operations stood at ₹1,387.94 crore in Q4FY23, however, declining by 17.56% from ₹1,683.58 crore in Q4 of FY22. But on quarter-on-quarter, revenue was up by 33.85% from ₹1,036.97 crore in Q3FY23.
For the full year FY23, BEML’s PAT stood at ₹157.89 crore versus ₹128.59 crore. While revenue dipped steeply to ₹3,898.95 crore in FY23 as against ₹4,337.49 crore in FY22.
For shareholders, BEML announced a final dividend of ₹5 per share (i.e. 50% of paid-up share capital) for the year ended March 31, 2023. This is in addition to the ₹5 per share dividend that is already paid to investors.
Overall, in FY23, the company’s total dividend is ₹10 per share or 100% of the paid-up share capital.
On BSE, BEML’s share price closed at ₹1418.45 apiece up by 0.6%.
BEML is a smallcap stock on BSE, having a annual dividend yield of 0.70% at the current market price. The stock has climbed by nearly 19% on the exchange in a month.
Beml is a ‘Schedule ‘A’ company under Ministry of Defence, and is Asia’s second-largest manufacturer of earth moving equipment.
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Updated: 26 May 2023, 03:42 PM IST
Article Source:Money Control