Board approved Dividend
Price
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On the reaction day the stock moved 8.8 pts more than Nifty Microcap 250 and 8.7 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors recommended a dividend of Rs. 4.00 (40%) per equity share on a face value of Rs. 10 for FY ended March 31, 2025, subject to shareholder approval at the upcoming AGM. The audited results show a sharp decline in business: revenue from operations fell to Rs. 21,231 lakhs from Rs. 33,797 lakhs last year (a drop of about 37%). Profit before tax dropped to Rs. 575 lakhs from Rs. 1,892 lakhs, and net profit fell to Rs. 347 lakhs from Rs. 1,396 lakhs (~75% decline). EPS came in at Rs. 14.12 versus Rs. 56.79 in the prior year. The Electricals segment saw the largest drop, while the Plastics segment swung from profit to loss. There was an exceptional item of Rs. 44 lakhs toward VRS compensation. The statutory auditor (Subbachar & Srinivasan) gave an unmodified (clean) opinion on the results.
Despite weak results, the company is still returning cash to shareholders with a 40% dividend, which shows balance sheet comfort — networth is Rs. 155.90 crores with zero qualified borrowings. However, the steep fall in revenue and profits across all segments is a serious red flag for investors and is likely to weigh on the stock until order books recover.