Small cap stock declares ₹20 per share dividend, scrip hit 52-week-low


HIL Limited, a flagship business of the CK Birla Group and the largest producer and retailer of fibre cement roofing in the world, was founded in 1946. The corporation counts of 21 cutting-edge production facilities in India, two manufacturing locations in Germany and Austria, and a network that spans India and more than 80 other nations. The company disclosed Q3 earnings and a market worth of 1,815.00 Cr on Friday. It also declared a dividend of 20 per share.

HIL Limited informed stock exchanges on Friday that its Board of Directors has approved and “Declared interim dividend of Rs. 20/- per equity share of Rs. 10/- each (i.e. 200%) for the financial year 2022-23. Fixed Monday, February 6, 2023 as record date and the said interim dividend will be paid to those members whose name appears in Register of Members (both physical & electronic mode) as on Record date. Payment of the said interim dividend will be processed within 30 days from the date of declaration.”

On a consolidated basis, the company reported revenue from operations of 767.17 crore in December 2022 as against Rs. 821.44 crore in December 2021, registering a fall of 6.60% YoY. In Q3FY23, the firm reported a consolidated net profit of Rs. 12.53 crore, down from Rs. 34.15 crore in Q3FY22 or a loss of 63.30% YoY. In Q3FY23, total expenses fell by 4% YoY to 749.55 crore from the 780.13 Cr recorded in the same period last year. HIL EPS dropped to Rs. 16.65 in December 2022 from Rs. 45.49 in December 2021.

After touching a new 52-week-low of 2,320.00, on Friday, the shares of HIL Limited closed on the NSE at 2,422.95 apiece, down by 4.00% from the previous close of 2,523.90. The stock recorded a total volume of 44,620 shares compared to the 20-Day average volume of 16,829 shares. The stock has dropped 43.47% over the last year, and on a year-to-date basis, it has fallen 7.95% so far in 2023. The stock touched a 52-week-high of 4,524.95 on (27-Jan-2022), indicating that after hitting a fresh 1-year low on Friday, the shares of HIL Limited were trading at a discount of 46% from its 52-week-high level. At Friday’s closing price the stock was seen trading below 5, 10, 20, 50, 100 and 200 days Simple Moving Average (SMA).

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Article Source:Money Control

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