KDDL Ltd said in a stock exchange filing that its Board of Directors has u201cconsidered and declared Interim Dividend of Rs. 2 per equity share (i.e. 20%) of Rs. 10/- each, for the financial year 2022-23. The Record Date for determining the Members, eligible to receive aforesaid Interim Dividend is Tuesday, 21st March 2023. The Interim Dividend will be paid within 30 days from the date of declaration in terms of the relevant provisions of the Companies Act, 2013.\u2019
During Q3FY23, the company recorded a net income of 317 Cr, up by 21% YoY from 261.5 Cr in Q3FY22. The company said its EBITDA stood at 60.2 Cr during the quarter that ended December 2022 up by 45% from 41.6 Cr recorded during the quarter that ended December 2021. KDDL Ltd said its net profit reached 30.9 Cr during Q3FY23, compared to 16.5 Cr in Q3FY22, representing a YoY growth of 87%.
Source: Mint News
During December 2022 quarter, the company made an expansion of the Dials factory situated at Derabassi, Punjab with an aim to enhance the capacity of the unit by 0.5 million pcs. per annum, to cater to exports of Swiss Watches. According to KDDL, the expansion would cost Rs. 16 crores in capital expenditures and be carried out over the course of two years (in FY23 and FY24).
The company also built a new facility in Bangalore (Karnataka) during the third quarter of 2022 to produce high-quality steel bands for watches. The plant will be built up with a capacity of 100k steel bracelets annually as part of the expansion, which has been implemented through a capital investment of Rs. 25 crores to be completed over the following two years (in FY23 and FY24).
Source: Investor Academy
On Friday, the shares of KDDL closed on the NSE at u20b91,069.00 apiece, up by 1.89% from the previous close of u20b91,049.20. The stock price rose from Rs. 386.51 to the current market price during the past five years, resulting in a multi-bagger return of 176.58%. The stock price climbed from Rs. 229.46 to the current market price over the past three years, resulting in a multi-bagger return of 380.06%. The stock has appreciated 29.51% over the past year, and it has climbed 2.45% year-to-date (YTD) in 2023. The stock touched a 52-week-high of 1,233.05 on (13-Feb-2023) and a 52-week-low of u20b9594.15 on (17-Jun-2022). During Q3FY23, the company reported a promoter shareholding of 49.25%, a FIIs stake of 12.60%, a DIIs stake of 2.13%, a Government stake of 0.09%, and a public stake of 35.91%.
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