HAL Announces Dividend Of <span Class='webrupee'>₹</span>20. Check Details Here

This is the second interim dividend declared by the company's board of director, at ₹10 each fully paid up, i.e., 200 per cent.

"The Board of Directors of the company has, inter-alia, declared a second interim dividend of ₹20 per equity share of ₹10 each fully paid up (200%) for the financial year 2022-23," HAL said in a filing.

In the past 12 months, HAL has declared an equity dividend amounting to ₹30 per share, which results in a dividend yield of 1.05 per cent.

State-owned Hindustan Aeronautics Limited reported a net profit of ₹1,155.2 crore, up 23.8 per cent year-on-year as against ₹933.4 crore reported in the year-ago period. Revenue from Operations fell 3.9% to ₹5,665.5 crore in the December quarter as compared to ₹5,893.8 crore in the corresponding quarter of last year.

EBITDA or Earnings Before Interest, Taxes, Depreciation, and Amortization dropped 31% to ₹985.5 crore in Q3FY23 as against ₹1,428.5 cr YoY, with a margin of 17.4%.

Total expenses of the aerospace company rose 2% to ₹4,951 crore for the quarter under review. This was ₹4,840 crore in the corresponding quarter of last year.

ICICI Direct has recommended investors to buy large cap stock operating in Defence sector, Hindustan Aeronautics Ltd with target price of ₹3240 apiece.

"Among oscillators, the weekly RSI is inching upward while sustaining above its nine period’s average. Meanwhile, the weekly MACD is on the cusp of recording a bullish crossover, indicating acceleration of upward momentum," it said.

The brokerage expects HAL to deliver revenue and EBITDA CAGR of 10.3% and 14.8%, respectively, over FY22-25E. Further, PAT is likely to grow at 12% CAGR over the same period.

On Friday, the company's scrip was 0.44 per cent down at ₹2,849.85 on BSE.

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