Large cap stock announces record date for 550% dividend, LIC held 2.88% stake in Q4

“The Board of Directors of the Company at their meeting held today i.e. May 18, 2023 have recommended a final dividend of Rs. 5.5/- per equity share i.e. 550% for the financial year ended March 31, 2023, subject to the approval of the Shareholders at the forthcoming Annual General Meeting. The total dividend for the year (including interim of Rs.4.5/- per equity share paid during the year) would be Rs. 10/- per equity share of Re.1/- each. The dividend, if approved, by the Shareholders will be credited/ dispatched within 30 days from the date of Annual General Meeting i.e. on or before September 15, 2023. Further, record date for the purpose of final dividend is August 11, 2023,” said PI Industries in a stock exchange filing.

During Q4FY23, the company recorded a net income of Rs 1615.1 Cr up by 14.12% YoY from ₹1415.20 Cr during Q4FY22. During the quarter ended March 2023, the company recorded a net revenue of ₹1565.6 Cr as compared to ₹1395.20 Cr during the quarter ended March 2022. During the quarter under review its net expenses stood at ₹1283.80 Cr as against ₹1146.50 Cr during the year-ago quarter. Its net profit for Q4FY23 reached ₹280.6 Cr up by 37.27% YoY from ₹204.40 Cr during Q4FY22. The EPS of PI Industries reached ₹18.49 from ₹13.49 in the same quarter of FY22.

PI Industries closed today on the NSE at ₹3,262 apiece down by 1.69% from the previous close of ₹3,318. The stock touched a 52-week-high of ₹3,698.45 on (09-Nov-2022) and a 52-week-low of ₹2,397.00 on (17-May-2022). During Q4FY23, PI Industries recorded promoters shareholding of 46.08%, FIIs stake of 18.59%, DIIs stake of 24.06%, Govt stake of 0.15%, public stake of 11.10% and others stake of 0.03%. As per the shareholding pattern of PI Industries, insurance giant LIC held 43,72,424 shares or 2.88% stake and ICICI Prudential Life Insurance Company held 18,24,499 shares or 1.20% stake in the company.