Quarterly Results Announcements: Spotlight on Jindal Stainless and Ramkrishna Forgings
Bumper Dividends Share: The business world is abuzz with companies announcing their quarterly results. As we navigate through this season, several companies have come forward with their financial performance for the July-September 2023 quarter. A significant highlight has been the declaration of dividends, with certain companies offering enticing returns to their investors.
Jindal Stainless Announces 50% Dividend
Jindal Stainless, a leading name in the stainless steel sector, declared a dividend at 50% of the face value of Rs 2, which translates to Rs 1 per share. The record date for this dividend has been set for October 28, and the disbursement is scheduled for on or before November 17, 2023. Delving deeper into the company’s performance, Jindal Stainless reported a staggering 120% profit increase, amounting to Rs 764 crores. Their EBITDA saw a hike of 80% reaching Rs 1231 crores, while the net revenue grew by 12%, concluding at Rs 9797 crores. However, on the share market front, Jindal Stainless shares closed at Rs 448.30, witnessing a drop of 3.31% or 15.35 points on the given day.
Ramkrishna Forgings Declares Bumper Dividend
Another notable company to join the dividend bandwagon is Ramkrishna Forgings. They too have declared an interim dividend of 50%, which equates to Rs 1 per share, considering a face value of Rs 2. This is their first dividend declaration for the current fiscal year. The record date for this dividend is October 30, with the payment expected to be processed within a month of the announcement.
Ramkrishna Forgings: A Closer Look at Performance
Analyzing the quarterly results of Ramkrishna Forgings, the company’s consolidated profit saw a surge, increasing from Rs 67 crores to Rs 82 crores. Their consolidated revenue jumped from Rs 854 crores to Rs 986 crores. In addition, the company’s operational profit for the second quarter was reported at Rs 197 crores. However, the company’s margin dropped slightly from 21.2% in Q1 to 20.1% in Q2. On the stock market end of things, the shares of Ramkrishna Forgings closed at Rs 649.35 on BSE, marking a decrease of 3.81% or 25.70 points.
These financial announcements, especially around dividends, reiterate the significance of keeping a close eye on the market trends and company performances. It’s these nuances that help investors make informed decisions.
