Bharat Dynamics FY24 turnover declines nearly 6%; shares trade ex-dividend

BDL share price NSE: Bharat Dynamics shares were under pressure on Tuesday, April 2, after the public sector defence equipment manufacturer logged a 5.6 per cent year-on-year decline in its FY24 turnover to Rs 2,350 crore. The BDL stock fell by as much as Rs 65.9, or 3.7 per cent, to Rs 1,708 apiece on NSE, mere hours after it traded ex-dividend.

At close, BDL settled at Rs 1,748, down 17.05 points or 0.97 per cent, continuing to weaken for the fourth trading session in a row.

After market hours on Monday, the company said it had registered a turnover of around Rs 2,350 crore (provisional and unaudited) for the financial year 2023-24 as against Rs 2,489.4 crore for the corresponding period a year ago.

Why the decline in turnover?

BDL said the reduction was mainly on account of the current geopolitical situation prevailing in Europe and the Middle East, affecting its supply chain.

As of April 1, 2024, its order book stood at around Rs 19,468 crore, according to a regulatory filing.

Bharat Dynamics dividend

Earlier, Bharat Dynamics announced an interim dividend of Rs 8.85 per equity share with a record date of April 2, to be paid to eligible shareholders on or before April 18, according to the filing.

Meanwhile, the BDP board also approved the sub-division of the company’s equity shares of the face value of Rs 10 apiece into two equity shares of the face value of Rs 5 each (a share split ratio of 2:1), subject to shareholders’ approval.

Bharat Dynamics share price history

Bharat Dynamics shares have delivered a return of nearly 75 per cent in the past year, sharply outperforming a rally of almost 29 per cent in the headline Nifty50 index.

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