High Dividend Alert: Mid-Cap Stock Set to Pay 350% Dividend; SBI and HDFC Mutual Funds Maintain Significant Stake in Q4

Rajesh
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Kalpataru Projects International Ltd (KPIL) is a reputable mid-cap construction company that has achieved a market capitalization of Rs 8,570.66 Cr during the recent closing session. With a global presence spanning 63 countries across five continents, KPIL is renowned as a top-tier Engineering, Procurement, and Construction (EPC) firm. Notably, the company has announced a final dividend of 350% for FY23, and to determine the eligibility of shareholders, a record date has been fixed.

Mid-Cap Stock Set to Pay 350% Dividend

Dividend Announcement and Record Date:

Kalpataru Projects International, in accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has fixed Thursday, July 6, 2023, as the "Record Date" for shareholders' entitlement to the final dividend of Rs. 7/- per equity share (350%). This dividend recommendation was made by the Board of Directors during their meeting on May 8, 2023. The final dividend, if declared, will be disbursed on or before August 14, 2023, as stated in the company's stock exchange filing.

Financial Performance Highlights:

During Q4FY23, Kalpataru Projects International achieved a consolidated revenue of Rs 4,882 Cr, indicating an 18% year-on-year (YoY) growth from Rs 4,135 Cr recorded in Q4FY22. The company's EBITDA for the quarter ending March 2023 stood at Rs 440 Cr, reflecting a significant YoY increase of 46% from Rs 302 Cr achieved during the corresponding period in March 2022. Kalpataru Power Transmission, a subsidiary of KPIL, reported a net profit of Rs 140 Cr for Q4FY23, marking a YoY growth of 22% from Rs 115 Cr in the same quarter of the previous year.

For the entire fiscal year FY23, Kalpataru Power's revenue witnessed an 11% YoY growth, reaching Rs 16,361 Cr compared to Rs 14,777 Cr in FY22. The company's EBITDA for FY23 also demonstrated an upward trend, increasing by 17% YoY to Rs 1,481 Cr from Rs 1,264 Cr in FY22. However, the net profit for FY23 declined by 19% YoY, dropping from Rs 535 Cr in FY22 to Rs 435 Cr in FY23.

Shareholding Pattern and Market Performance:

Kalpataru Projects International's shares on the Bombay Stock Exchange (BSE) closed at Rs 527.60 apiece on Thursday, marking a 0.60% decrease from the previous closing price of Rs 534.65. The stock achieved a 52-week high of Rs 597.15 on March 13, 2023, and a 52-week low of Rs 345.00 on July 6, 2022.

In terms of shareholding pattern, as of Q4FY23, promoters held 47.23% of the company's shares, while Foreign Institutional Investors (FIIs) accounted for a stake of 6.92%.

Domestic Institutional Investors (DIIs) held 37.76% of the shares, and the remaining 8.08% was in the hands of the public.

Noteworthy among the mutual funds' shareholding pattern for January to March 2023, SBI Small Cap Fund held 1,32,05,365 fully paid-up equity shares, representing an 8.13% stake. Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund held 1,59,65,131 fully paid-up equity shares, equivalent to a 9.83% stake. Additionally, Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund had 31,70,133 shares (1.95% stake), Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund held 94,71,561 shares (5.83% stake), and Icici Prudential Value Discovery Fund held 1,29,26,520 shares (7.96% stake) in Kalpataru Projects International. These figures indicate that mutual funds collectively held a stake of 36.13% in the company during Q4FY23.

Conclusion:

Kalpataru Projects International Ltd (KPIL) is a mid-cap construction company with a strong market presence and global operations. The company's market capitalization reached Rs 8,570.66 Cr, and it declared a final dividend of 350% for FY23, with a record date set for July 6, 2023. The financial performance showcased a significant YoY revenue growth of 18% in Q4FY23 and a 46% increase in EBITDA. Despite a 19% YoY drop in net profit for FY23, the company continues to be an influential player in the construction industry. Investors can closely monitor the company's market performance and shareholding pattern to make informed decisions about Kalpataru Projects International.

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