Eicher Motors To Pay Highest Dividend In Four Years
The dividend will be paid within 30 days from the date of approval.
Eicher Motors Ltd. will pay the highest dividend in four years after the board recommended Rs 51 per share for fiscal 2024. The proposal will require shareholders' nod at the ensuing 42nd annual general meeting, according to an exchange filing on Friday.
The dividend will be paid within 30 days from the date of approval. The Royal Enfield parent will distribute Rs 1,396 crore to shareholders.
The previous highest dividend was announced in March 2022 of Rs 125 apiece. In FY23, the company paid Rs 37 per share.
Eicher Motors' bottom line rose by nearly a fifth in the fiscal fourth quarter, as earnings from its motorcycle business surged.
Consolidated net profit of the company rose 18.20% over the previous year to Rs 1,070.45 crore in the three months ended March 31, 2024, on the back of revenue that increased 11.84% to Rs 4,173.35 crore. Analysts polled by Bloomberg had estimated the top line at Rs 4,226.80 crore and the bottom line at Rs 1,068.19 crore.
Eicher Motors Q4 FY24 Highlights (YoY)
Revenue up 11.84% to Rs 4,173.35 crore (Estimate: Rs 4,226.80 crore).
Ebitda up 21.51% to Rs 1,045.95 crore (Estimate: Rs 1,139.36 crore).
Ebitda margin expands 200 bps to 25.06% (Estimate: 27%).
Net profit up 18.20% at Rs 1,070.45 crore (Estimate: Rs 1,068.19 crore).
Note: One basis point is one-hundredth of a percentage point.
