Despite experiencing losses in FY24, numerous corporations have proposed paying dividends, subject to shareholder approval. Interestingly, promoters own shares ranging from 20% to 75% in these companies, making them major recipients of dividend distributions in some circumstances.
Moreover, by prioritizing dividends, the firm aims to sustain investor trust and signal optimism for future recovery and growth prospects, highlighting its proactive approach to navigating through economic downturns while safeguarding shareholder interests.
Here are the stocks that declared dividends while suffering losses in FY24.
Gujarat Alkalies & Chemicals Ltd
Gujarat Alkalies and Chemicals Ltd is a multi-product chemical manufacturing firm and is one of the top makers of Caustic Soda Lye. Its manufacturing facilities are located at Dahej and Vadodara in Gujarat.
With a market capitalization of Rs 5,713.76 crore, the shares were trading at Rs 778.05 per share, decreasing around 0.20 percent as compared to the previous closing price. In FY24, the business’s standalone sales fell to Rs 3,807 crore, and its net profit fell to Rs 132 crore loss, despite the fact that the company announced a total dividend of Rs 101.71 crore.
Kolte Patil Developers Ltd
Kolte-Patil Developers Limited is a real estate company based in India that builds residential, commercial, and IT parks, rents immovable properties, operates a retail store and offers project management services for managing and developing real estate projects.
With a market capitalization of Rs 3,392.46 crore, the shares were trading at Rs 446.35 per share, increasing around 0.57 percent as compared to the previous closing price. In FY24, the business’s standalone sales fell to Rs 579 crore, and its net profit fell to Rs 71 crore loss, despite the fact that the company announced a total dividend of Rs 30.40 crore.
Mahindra Lifespace Developers Ltd
Mahindra Lifespace Developers Ltd. is a real estate development business. The company, along with its subsidiaries, develops residential projects in the premium and value housing categories, as well as integrated cities and industrial clusters.
With a market capitalization of Rs 9,530.93 crore, the shares were trading at Rs 614.50 per share, decreasing around 0.75 percent as compared to the previous closing price. In FY24, the business’s standalone sales fell to Rs 19 crore, and its net profit fell to Rs 39 crore loss, despite the fact that the company announced a total dividend of Rs 41.08 crore.
Manali Petrochemicals Ltd
Manali Petrochemicals Limited manufactures and sells propylene oxide (PO), propylene glycol (PG), and polyols (PY), which are industrial raw materials. It makes PY in four grades: flexible slabstock (FSP), flexible cold cure, rigid, and elastomers.
With a market capitalization of Rs 1,637.60 crore, the shares were trading at Rs 95.21 per share, decreasing around 0.70 percent as compared to the previous closing price. In FY24, the business’s standalone sales fell to Rs 798 crore, and its net profit fell to Rs 9 crore loss, despite the fact that the company announced a total dividend of Rs 12.90 crore.
Arvind Fashions Ltd
Arvind Fashions Limited is an India-based firm that specializes in the marketing and distribution of branded garments and accessories. The company operates in two geographical segments: India and the rest of the world.
With a market capitalization of Rs 7,051.02 crore, the shares were trading at Rs 529.35 per share, decreasing around 2.32 percent as compared to the previous closing price. In FY24, the business’s standalone sales fell to Rs 609 crore, and its net profit fell to Rs 11 crore loss, despite the fact that the company announced a total dividend of Rs 16.62 crore.
Written by:- Abhishek Singh
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