Bharat Heavy Electricals Ltd (BHEL): Announces Record Date for Final Dividend

Bharat Heavy Electricals Ltd (BHEL), a prominent Maharatna CPSE (Central Public Sector Enterprise) in India, is renowned as one of the largest manufacturing and engineering firms in the country. In compliance with Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the company has officially declared Friday, 11th August, 2023 as the "Record Date" for determining the eligibility of its members to receive the final dividend of Rs. 0.40 per share, representing a 20% payout on the paid-up equity share capital for the financial year 2022-23.


The dividend payment is subject to the approval of the members during the forthcoming 59th Annual General Meeting scheduled for 24th August, 2023. If approved, the dividend will be disbursed within 30 days from the date of declaration, specifically on or before 22nd September, 2023. This announcement was made by BHEL through a filing with the stock exchange on Monday.

Bharat Heavy Electricals Ltd has maintained a commendable track record of consistently declaring dividends over the past five years. For the financial year ending March 2023, the company has announced an equity dividend of 20.00% at a face value of Rs 2 per share, amounting to Rs 0.4 per share. The current dividend yield, based on the prevailing share price of Rs 92.71, stands at 0.43%. Notably, according to Trendlyne's statistics, BHEL has issued 36 dividends since August 27, 2001.

In the fourth quarter of FY23, BHEL reported a net profit of Rs. 611 crore, reflecting a decline of 33.04% compared to the PAT (Profit After Tax) of Rs. 912.47 crore reported in Q4FY22. The total expenses for BHEL in Q4 FY23 amounted to Rs 7,474.47 crore, indicating a 5.40% increase from Rs 7,091.29 crore in Q4 FY22. Additionally, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter stood at Rs 986.2 crore, marking a 14.4% decrease from Rs 1,151.9 crore in Q4FY22. In Q4 FY23, the total revenue from operations showed a modest increase of 2.05% to Rs 8,226.99 crore from Rs 8,061.68 crore in Q4 FY22. BHEL's annual PAT for FY23 amounted to Rs 477.39 crore, compared to Rs 446.03 crore in FY22. Moreover, the company witnessed an increase in revenue from Rs 21,211.09 crore in FY22 to Rs 23,364.94 crore in FY23. It is worth noting that BHEL is yet to declare its Q1FY24 results.

On Monday, BHEL shares commenced trading on the Bombay Stock Exchange (BSE) at Rs 92.26. The stock reached a 52-week high of Rs 96.45 on 13th July, 2023, while its 52-week low stood at Rs 48.80 on 15th July, 2022. During Q1FY24, the company recorded a promoter shareholding of 63.17%, with FIIs (Foreign Institutional Investors) holding a stake of 7.77%, DIIs (Domestic Institutional Investors) holding 16.36%, and the remaining 12.71% being held by the public.

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