Mukul Agrawal Portfolio Stock Alert: Raymond Ltd to Trade Ex-Dividend Today - Check Your Ownership!

Rajesh
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Discover the latest update on Raymond Ltd, a mid-cap company in the consumer discretionary sector, as it declares a final dividend of Rs 3 per share for FY23. Learn about the record date, financial performance, and significant shareholding by ace investor Mukul Mahavir Agrawal. Check if you own this stock before it trades ex-dividend.

Raymond Ltd to Trade Ex-Dividend Today


Raymond Ltd, a renowned mid-cap company operating in the consumer discretionary sector, holds a diversified portfolio encompassing textile and apparel businesses, consumer products, real estate, and engineering, both domestically and internationally. The company has announced a final dividend of Rs 3 per share for FY23. As the stock trades ex-dividend today due to the T+1 settlement mechanism, it's crucial to determine if you own shares of Raymond Ltd.

Dividend Declaration and Record Date:

Raymond Ltd, in a recent stock exchange filing, stated that the Board of Directors has recommended a dividend payment of 30% on the equity share capital, equivalent to Rs. 3 per equity share with a face value of Rs. 10 each, for the financial year ended March 31, 2023. The dividend is subject to approval by the shareholders at the upcoming 98th Annual General Meeting. If approved, the dividend will be paid on or after Tuesday, July 11, 2023. To establish shareholders' eligibility for the dividend, the company has fixed June 23, 2023, as the record date.

Financial Performance Highlights:

Raymond Ltd recorded a consolidated net profit of Rs 194.35 crore in the quarter ending March, indicating a 26% decline from the Rs 263.31 crore in Q4FY22. However, the firm experienced a 9.8% growth in consolidated revenue from operations, reaching Rs 2,150.18 crore during the quarter ended in March 2023, compared to Rs 1,958.10 crore in the corresponding quarter of FY22. Notably, the company achieved its highest-ever sales and EBITDA figures in FY23, amounting to Rs. 8,337 crore and Rs. 1,322 crore, respectively.

Segment-Wise Revenue Breakdown:

During Q4FY23, Raymond's textile business generated revenue of Rs 901.79 crore, while the apparel segment contributed Rs 331.54 crore, and the garments segment added Rs 305.40 crore. The engineering business reported revenue of Rs 115.49 crore from its tools and hardware division, whereas the real estate and property development segment experienced a 9.97% decline in revenue, totaling Rs 289.16 crore during the March quarter. In FY23, Raymond's net profit surged to Rs. 536.96 crore, a significant increase from Rs 265.12 crore in FY22. The company's consolidated revenue from operations witnessed a notable growth of 32.95%, rising from Rs 6,178.51 crore in FY22 to Rs 8,214.72 crore in FY23.

Shareholding Pattern and Market Performance:

On the Bombay Stock Exchange (BSE), Raymond's shares closed at Rs 1672.35 apiece on Thursday, indicating a 3.35% decline from the previous close of Rs 1730.35. The stock reached a 52-week high of Rs 1,785.00 on June 19, 2023, and a 52-week low of Rs 797.00 on June 23, 2022.

As of Q4FY23, the shareholding pattern reveals that promoters hold 49.15% of the company's shares, while FIIs (Foreign Institutional Investors) have a stake of 16.72%, and DIIs (Domestic Institutional Investors) hold 5.10%. The public holds 29.03% of the shares.

In the January to March 2023 quarter, esteemed investor Mukul Mahavir Agrawal held fully paid-up equity shares of 11,98,018, representing a 1.80% stake in Raymond Ltd.

Conclusion:

Raymond Ltd, a mid-cap company operating in the consumer discretionary sector, has announced a final dividend of Rs 3 per share for FY23. The stock will trade ex-dividend today due to the T+1 settlement mechanism. Shareholders should verify their ownership to ensure eligibility for the dividend. Raymond Ltd's financial performance showcases a decline in Q4FY23 net profit but notable revenue growth for the fiscal year. Stay updated with the shareholding pattern and market performance, especially with ace investor Mukul Mahavir Agrawal holding a stake in the company.

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