Dividend update
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 2.2 pts less than its Industrial Products 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 of Stovec Industries Ltd, held on February 23, 2026, approved the audited financial results for the quarter and financial year ended December 31, 2025, with a clean (unmodified) audit opinion from Price Waterhouse Chartered Accountants LLP. The Board recommended a dividend of Rs. 12 per equity share (120% on Rs. 10 face value) for FY25, subject to shareholder approval at the upcoming AGM. For context, based on the cash flow statement, the company paid out Rs. 275.62 million as dividend in FY24, implying a much higher per-share payout (~Rs. 132/share) last year, making this a sharp year-on-year reduction. Financial performance weakened — FY25 revenue fell to Rs. 1,981.11 million (from Rs. 2,345.70 million in FY24) and net profit dropped to Rs. 68.98 million (from Rs. 129.61 million), translating to EPS of Rs. 33.04 versus Rs. 62.07 prior. The trading window for insiders reopens on February 25, 2026.
The substantial dividend cut is likely to disappoint income-focused investors, especially given the steep drop in earnings. The weaker top line and almost halved profit may also put pressure on the stock in the short term, though the audited clean opinion and continued (albeit lower) dividend signal some stability.