Aditya Birla group stock recommends 100% dividend, Q4 PAT tumbles 70%: Do you own?
Century Enka is a small cap textile company that recorded a market cap of ₹853.92 Cr during Friday’s closing session. Century Enka, a subsidiary of the Aditya Birla Group, is a prominent manufacturer of high-quality Nylon Tyre Cord Fabric (NTCF), which is used as a reinforcement material in bias tyres, and Nylon Filament Yarn (NFY), which is mostly used in the garment industry. Century Enka is India’s largest maker of NFY and second largest manufacturer of NTCF.
“The Board of Directors has also recommended a dividend at the rate of 100% (i.e., Rs.10/- per Equity Share of Rs.10/- each) for the financial year ended on 31st March 2023,” said Century Enka in a stock exchange filing.
During Q4FY23, the company recorded a net income of ₹479.79 Cr down by 16.88% YoY from ₹577.21 Cr in Q4FY22. During the quarter ended March 2023, its net profit stood at ₹14.51 Cr down by 70.78% YoY from ₹49.65 Cr in the quarter ended March 2022. The EPS of Century Enka reached ₹6.64 during the quarter under review down by 70.77% YoY from ₹22.72 in the corresponding quarter.
During the financial year ended March 2023, the company reported a net income of ₹2091.09 Cr down by 1.29% YoY from ₹2118.46 Cr in the financial year ended March 2022. During 12MFY23 its net profit reached ₹90.44 Cr down by 50.89% YoY from ₹184.16 Cr in 12MFY22 and its EPS dropped by 50.89% YoY from ₹84.28 to ₹41.39.
On Friday the shares of Century Enka closed on the NSE at ₹390 apiece down by 4.98% from the previous close of ₹410.45. The stock touched a 52-week-high of ₹523.75 on (18-May-2022) and a 52-week-low of ₹340.00 on (28-Mar-2023). During Q4FY23, the company reported promoters shareholding of 24.79%, FIIs stake of 3.35%, DIIs stake of 4.74% and a public stake of 67.11%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.