Low PE high ROE stock Akzo Nobel India sets record date for ₹25 dividendPersonal FinanceLow PE high ROE stock Akzo Nobel India sets record date for ₹25 dividend

Low PE high ROE stock Akzo Nobel India sets record date for ₹25 dividend


With a market valuation of 9,907.98 Cr, Akzo Nobel India Limited is a mid-size company that operates in the consumer discretionary industry. The largest coatings firm in the world, AkzoNobel has dominant market mastery and well-known brands in several nations. Since its establishment more than 60 years ago, Akzo Nobel India has supplied reputable and popular brands including Dulux, Sikkens, International, and Interpon. While declaring its Q3FY23 results, the company has declared a dividend of 25 per share for its eligible shareholders.

The company has made public that its Board of Directors has recommended an interim dividend of 25/- per equity share for the financial year 2022-23. Akzo Nobel India said in a stock exchange filing that the Board has “Fixed Tuesday, 21 February, 2023 as the Record Date for determining entitlement of members to interim dividend for the financial year 2022-23. A member, whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the close of business hours of Tuesday, 21 February, 2023, shall be entitled for this dividend.”

“The Board of Akzo Nobel India remains committed to creating value for its shareholders. Hence, based on the performance in the nine months ended 31 December 2022, the Board is delighted to announce an interim dividend of 25 per share for the year 2022-23,” said Mr. Oscar Wezenbeek, Chairman, Akzo Nobel India.

During Q3FY23, the company posted revenue from operations of 986.8 crore, up by 8% YoY from 914.40 Cr recorded in Q3FY22. Akzo Nobel India said its EBIT from operations reached 121.8 crore, up by 12%, whereas net expenses stood at 867.60 Cr in the quarter ended December 2022 compared to 808.70 Cr in the year-ago quarter, representing a fall of 1% YoY. The profit before tax of Akzo Nobel India stood at 131.60 Cr in Q3FY23 compared to 110.40 Cr in Q3FY22, whereas its net profit reached 97.4 crore in Q3FY23, up by 16% YoY from 83.90 Cr in Q3FY22.

Commenting on the performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said, “In the first nine months of the fiscal year, our robust 25% revenue growth has led to market share gains across businesses.” He added “We have registered a topline growth of 8% in the quarter led by a strong performance across the Coatings businesses. Decorative paints saw a relatively muted growth, retail markets were affected by monsoon in October but saw an uptick in November and December. Our double-digit profitability was driven by margin management and operating efficiencies.”

On Friday, the shares of Akzo Nobel India closed on the NSE at 2,180, down by 0.10% from the previous close of 2,182.15. The stock reached a 52-week-high of 2,400.00 on (18-Nov-2022) and a 52-week-low of 1,687.60 on (17-Jun-2022). Debt-free company Akzo Nobel India with a debt-to-equity ratio of zero posted a promoter shareholding of 74.76%, FIIs stake of 2.71%, DIIs stake of 9.21% and a public stake of 13.33% in Q3FY23. The price-to-earning ratio of Akzo Nobel India is 31.5, lower than its sector PE ratio of 62 whereas, Return on Equity(ROE) for FY22 was 23.1%, more than 20% in FY21, making the stock attractive despite being a debt-free and having zero promoter pledge, according to Trendlyne.


Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Finplay.
Download Finplay News App to get Daily Market Updates.

More
Less

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




Leave a Reply

Your email address will not be published. Required fields are marked *

Finplay

AMFI-registered Mutual Fund Distributor ARN-192179

Company

© 2024 Finplay Technologies Private Limited. All Rights Reserved.