Samvardhana Motherson Dividend 2024: Auto components maker Samvardhana Motherson International Ltd has announced a dividend for its investors. The company made this announcement on Wednesday while sharing its earnings for the fourth quarter ended March 2024. Samvardhana Motherson has posted a two-fold jump in consolidated net profit to Rs 1,444 crore in Q4FY2024.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal. Total revenue from operations rose to Rs 27,058 crore for the period under review as compared to Rs 22,517 crore in the last quarter of FY23. For the year ended on March 31, 2024, the company reported a net profit of Rs 3,020 crore as against Rs 1,670 crore in FY23. Total revenue from operations rose to Rs 98,692 crore in FY24 over Rs 78,788 crore in FY23.

Samvardhana Motherson Dividend 2024

Samvardhana Motherson said its board has approved a dividend of 80 paise per share of the face value of Re 1 each for the financial year ended on March 31, 2024.

"Recommended a dividend of INR 0.80 (Eighty Paise only) per equity share (face value of Re. 1/- each) for the financial year ended March 31, 2024 on the Equity Share Capital of the Company, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM”)," the company said in an exchange filing.

Samvardhana Motherson Share Price 

Shares of the company on Thursday opened at Rs Rs.150.05 and went on to hit a 52-week high of Rs 150.25. The stock has been gaining for the last two days and has risen 4.33 per cent. 

Samvardhana Motherson Share Price Target
 
Zee Business Managing Editor Anil Singhvi suggested investors buy the company's shares for targets of Rs 150, Rs 153, and Rs 155. He said that investors can keep the stop loss of Rs 144. 

Meanwhile, Morgan Stanley has maintained an overweight rating on the counter. The brokerage has raised the target to Rs 176 apiece from Rs 133 apiece earlier.

Also, Nomura has retained a buy call with a raised target of Rs 165 apiece from Rs 133 apiece. According to the brokerage, Q4 was in line. Integration of acquisitions is likely to drive strong earnings growth in FY25-26F. 

With PTI inputs