With a market valuation of Rs. 1,357.33 Crore, KDDL Limited is a small-scale company with operations in the Consumer Discretionary industry. KDDL is a well-known Indian company that specializes in the production of watch parts. The corporation has declared an interim dividend of 20% for the financial year 2022-2023, and the same has been announced to determine the eligibility of shareholders for the purpose of the record date.
KDDL Ltd said in a stock exchange filing that its board of directors has “considered and declared an interim dividend of Rs. 2 per equity share (i.e. 20%). 10/- each for the financial year 2022-23. Ibid The record date for determining the members eligible to receive the interim dividend is Tuesday, March 21, 2023. The interim dividend will be paid within 30 days from the date of declaration in accordance with the relevant provisions of the Companies Act, 2013.
During Q3FY23, the company reported a net income of 317 Cr, up 21% YoY 261.5 crore in Q3FY22. The company said its EBITDA stood at 45% more than 60.2 crore during the quarter ending December 2022 41.6 crore was recorded during the quarter ending December 2021. KDDL Limited said its net profit reached 30.9 crore during Q3FY23, as compared to 16.5 Cr in Q3FY22, representing a YoY growth of 87%.
During the December 2022 quarter, the company expanded its dial factory located at Derabassi, Punjab, with an aim to increase the unit’s capacity to 0.5 million pcs. per year, to meet the export of Swiss watches. According to KDDL, the expansion will cost Rs. 16 crore in capital expenditure and will be done over the course of two years (in FY23 and FY24). The company also built a new facility in Bangalore (Karnataka) during the third quarter of 2022 to produce high-quality steel bands for watches. The plant will be built with a capacity of 100k steel bracelets annually as part of the expansion, which has been implemented through a capital investment of Rs. 25 crores to be completed in the next two years (in FY23 and FY24).
KDDL shares closed on NSE on Friday 1,069.00 per share, up 1.89% from its previous closing price 1,049.20. The share price rose from Rs. 386.51 at the current market price during the last five years, resulting in multibagger returns of 176.58%. The share price climbed from Rs. 229.46 at the current market price in the last three years, resulting in multibagger returns of 380.06%. The stock has appreciated 29.51% over the past year, and is up 2.45% year-to-date (YTD) in 2023. The stock has touched a 52-week high. at 1,233.05 (13-Feb-2023) and 52-week low at 594.15 (17-Jun-2022). During Q3FY23, the company reported promoter shareholding of 49.25%, FII holding of 12.60%, DII holding of 2.13%, Government holding of 0.09% and Public holding of 35.91%.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.