NELCO Limited has informed the Exchange that Board of Directors at its meeting held on April 20, 2026, recommended Dividend of Re. 1 per equity share.
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Nelco Limited's Board of Directors recommended a final dividend of Rs. 1 per equity share (10% on face value Rs. 10) for FY2026, subject to shareholder approval at the AGM. This is a significant reduction from the previous year's dividend of Rs. 2.20 per share (22%). For the year ended March 2026, consolidated income from operations stood at Rs. 30,660 Lakhs, nearly flat compared to Rs. 30,487 Lakhs in the previous year. However, consolidated net profit dropped sharply to Rs. 332 Lakhs from Rs. 953 Lakhs in the prior year. Standalone net profit also declined to Rs. 609 Lakhs from Rs. 981 Lakhs. The auditors issued unmodified opinions on both standalone and consolidated financial results.
The dividend cut from Rs. 2.20 to Rs. 1 per share signals lower profitability and may concern income-focused investors. The sharp decline in net profit despite stable revenues suggests increased costs or margin pressure, which could weigh on the stock price in the near term.