India Nippon Electricals Limited is a Small-Cap company having a market cap of 863.23 Crore and the company operates in Consumer Discretionary sector. The company manufactures portable engines, electronic ignition systems for three-wheelers and two-wheelers. Even though it is debt-free, the firm declared a 185% dividend when it announced its Q3 earnings, which is icing on the cake for eligible shareholders.
The company said in a stock exchange filing that the board of directors declared an interim dividend of Rs 9.25 (rupees nine and twenty five paise only) on fully paid-up equity share of Rs 5 each for the financial year 2022-23. , The interim dividend will be paid/remitted within the due date to all those shareholders whose names appear in the register of members as on the record date. The Board of Directors has fixed the record date for this purpose as February 24, 2023.”
During Q3FY23, the company reported a net profit of Rs. 13.56 crore, up 40.81% YoY from 9.63 crore in Q3FY22. The company said in a stock exchange filing that its revenue from operations reached 156.19 crore in the quarter ending December 2022 as compared to 148.04 crore in the quarter ending December 2021, representing a growth of 5.51%. India Nippon Electricals said its net expense 147.68 Cr in Q3FY23 against 138.53 crore in the year-ago quarter, while Bharat Nippon Electricals’ EPS reached as compared to 6.00 in Q3FY23 4.26 was recorded in Q3FY22.
Shares of India Nippon Electricals Limited closed today on NSE Closes at 381.35, up 0.73% from previous close 378.60. The stock recorded a net NSE + BSE average volume of 14,593 shares and an average delivery volume of 650,848 shares or 44.6%. The stock has fallen 13.11% in last 1 year and on YTD basis it has fallen 4.10% so far in 2023.
The stock touched a 52-week high 506.00 (15-Sep-2022) and 52-week low 319.70 as (20-Jun-2022), indicating that at current market price, the stock is trading 24.63% below 1-year high and 19.28% above 1-year low. As per Trendline data, Bharat Nippon Electricals recorded zero debt-to-equity ratio in FY22 and the stock is trading at a price-to-earnings ratio of 16.2, which is lower than its sector PE ratio of 36. During Q3FY23, the company reported promoter shareholding of 70.38%, FII holding of 0.11% and public holding of 29.51%.
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