- Shares of GM Breweries Ltd will be trading ex-dividend on May 9, following the company’s declaration of a final dividend of ₹7.00 per equity share for its eligible shareholders.
- The record date for ascertaining the eligibility of shareholders for the dividend has been fixed on May 9.
- In a stock exchange filing, GM Breweries Ltd announced a proposed dividend @ 70% i.e. Rs.7/- per equity share of Rs.10 each.
GM Breweries Ltd announces a final dividend of ₹7.00 per equity share, with the record date set for May 9. The company’s Q4 results show a significant increase in net profit.
Q4 Results Overview
GM Breweries’ net profit rose to ₹86.6 crore in the fourth quarter (Q4) ended March 31, 2024, from ₹35.1 crore a year ago. The increase in bottomline can be attributed to a sharp rise in other income, which rose to ₹70 crore from ₹15 crore in the year-ago period. Its revenue surged by 2.1 per cent from last year to ₹159.2 crore.
EBITDA and Operating Income
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 19.7 per cent year-on-year to ₹25.2 crore due to higher expenses and finance costs. EBITDA margin also narrowed to 15.8 per cent from 20.1 per cent last year. Operating income recorded a 1.3 per cent decrease sequentially, and a 21.41 per cent decline year-on-year for GM Breweries.
EPS and Bonus Shares
The earnings per share (EPS) for Q4 FY24 stood at ₹47.4, marking a significant 146.72 per cent increase year-over-year. The company also announced bonus shares for its shareholders, with the issue expected to be completed within two months.
Conclusion
GM Breweries Ltd’s shares will be in focus as they trade ex-dividend on May 9. The company’s Q4 results show a significant increase in net profit, despite a decline in EBITDA and operating income. The announcement of bonus shares adds to the positive outlook for the company’s shareholders.
