Dividend Paying Stocks: Mr. cement Ltd., a large-cap cement company, ex-Dividend Today and has declared a final dividend of 450 percent. The board of directors of the company has approved the final dividend as on the date of filing to BSE, i.e. May 21, 2022, the board has said, “The board has also recommended final dividend @ Rs.45/- per equity share of Rs. for each of the year ended 31st March, 2022, subject to the approval of the members at the ensuing Annual General Meeting of the Company.” Investors should note that the ex-dividend date is July 13, 2022 and the record date is July 14, 2022.
Shree Cement Good dividend track record is maintained. It has declared 36 dividends, of which 18 are final dividends, including one recently, 17 interim dividend and 1 special dividend. In May 2022, for the end of March and 2022, the company declared a final dividend of 450 per cent, which was Rs 45 per share. Further, earlier, it has declared an interim dividend of 450 per cent amounting to Rs 45 per share (RD Revised).
It came into existence in 1979. Its operations are spread across the country India and 1 and 9 grinding units in UAE, UAE with 4 integrated plants in India. Shree Cement was one of the industry pioneers for the use of alternative fuel resources in the production of cement and today we have the largest installed capacity of Waste Heat Recover Power Plant in the world, second only to China.
financial situation
In May this year, the cement maker made the quarterly announcement for the January to March 2022 time period. Though the company posted 5.6 per cent higher profit at Rs 645 crore, it was 16 per cent lower than profit of Rs 768 crore. The company is registered in the fourth quarter of last year.
Shree Cement’s revenue growth for the quarter under review grew by 3.6 per cent to Rs 4,098 crore as against Rs 3,958 in the corresponding quarter of the previous fiscal.
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Prabhudas Lilladher, in his first quarter (April-June 22) earnings estimates for the cement sector, said it expects Shree Cement’s net profit to grow 9 per cent (32.3 per cent quarterly) on a year-on-year basis to Rs 721 crore. on-quarter). According to Prabhudas Lilladher, net sales are expected to grow 26.3 per cent year-on-year (6.3 per cent QoQ) to Rs 4,357 crore.
It said that the income before interest, tax, depreciation and amortization (EBITDA) is likely to increase by 6.5 per cent (QoQ up 18.6 per cent) to Rs 1,079.9 crore.
According to Jeffries, the company’s stock appears to be a factor in expected industry-led weakness in fiscal 2013 and the company has a strong focus on green energy, alternative fuels and logistics savings.
The brokerage house also said that the company wants relief from cost inflation from H2FY23. This doubles the capacity for the company to 80 metric tonnes per annum by 2030.
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