Kansai Nerolac Paints Ltd.'s board has recommended a dividend of Rs 3.75 for the financial year, this dividend includes a special dividend of Rs 1.25 per, according to the exchange filing on Saturday.
The dividend, once declared, will be payable on or after July 3, 2024, to shareholders whose names are registered in the Register of Members of the Company as of June 21, 2024. Additionally, it will be payable to beneficiary holders listed in the records provided by National Securities Depository Limited and Central Depository Services as of June 21, 2024.
The paint company's net profit jumped over 18%, but missed the street estimates in the quarter ended March 2024. Net profit of the paint company surged to Rs 114.29 crore, according to an exchange filing. That compares with a consensus estimate of Rs 130.88 crore, according to analysts tracked by Bloomberg.
Kansai Nerolac Q4 Results Highlights: (Consolidated YoY)
Revenue rose 2.06% to Rs 1,769.39 crore. (Bloomberg estimate: Rs 1,814.40 crore).
Ebitda rose 6.47% at Rs 179.01 crore. (Bloomberg estimate: Rs 216.21 crore).
Margin stood at 10.11% versus 9.69% (Bloomberg estimate: 11.90%).
Net profit rose 18.75% at Rs 114.29 crore. (Bloomberg estimate: Rs 130.88 crore)
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