In Thursday’s early trade, the shares of a prominent integrated automation and software solution provider surged by 7.7%, hitting a 52-week high of ₹53,000 per share. This increase followed the company’s announcement of a remarkable 32% year-on-year growth in net profit and a dividend payout of ₹100 per share.
At 12:05 a.m., Honeywell Automation India Ltd. shares were trading at ₹51,890 per share, up 5.44% or ₹ 2,675.55 on the Bombay Stock Exchange from the previous close price. The company has a market capitalization of ₹45,878 crore.
Honeywell Automation India reported a net profit of ₹148 crores for the quarter ending March 2024 (Q4FY24), marking a 32% rise from ₹112 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 12%, reaching ₹950 crores compared to ₹849 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹501 crore, up 14% from ₹438 crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 17.7%, standing at ₹4,058 crores compared to ₹3,447 crores in the previous fiscal year. As per the company’s filing.
The company’s Board of Directors has proposed a final dividend of ₹100 per equity share, equivalent to 1000% of the face value of ₹10 each for the Financial Year ending on March 31, 2024. The record date for this dividend has been set as July 24, 2024.
At the operational level, there has been a notable increase in EBITDA by 22.5% to ₹170 crores in the fourth quarter of this fiscal compared to ₹138.7 crores in the corresponding period of the previous year.
The EBITDA margin for Q4 stands at 17.9%, exhibiting growth from 16.3% in the corresponding period of the prior fiscal year.
Over the last six months, shares of Honeywell Automation India have surged by 39%, while over the past 12 months, they have seen an increase of 36%.
Honeywell Automation India is renowned for its leadership in delivering comprehensive automation and software solutions, encompassing process solutions and building solutions. The company boasts a diverse product portfolio in environmental and combustion controls, and sensing controls, and extends engineering services in the domain of automation and control to its global clientele.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
