Balmer Lawrie Investments Ltd , a prominent player in the Indian financial landscape, has made a significant announcement regarding its dividend payout for the fiscal year 2024. The company's Board of Directors has put forward a recommendation that could bring cheer to its shareholders.

Dividend Recommendation

The Board of Directors of Balmer Lawrie Investments Ltd has recommended a dividend of Rs. 18.00 per equity share for the financial year concluded on March 31, 2024. This recommendation applies to the company's total of 2,21,97,269 equity shares.

Shareholder Approval and Payment Timeline

It's important to note that this dividend proposal is subject to shareholder approval, which will be sought at the upcoming Annual General Meeting (AGM). The company has stated that if the shareholders give their nod to this recommendation, the dividend will be disbursed within 30 days from the date of declaration at the AGM.

Implications for Shareholders

If approved, this dividend payout could represent a significant return for the company's shareholders. With 2,21,97,269 equity shares eligible for the dividend, the total payout would amount to approximately Rs. 39.95 crores (2,21,97,269 * Rs. 18.00).

The proposed dividend reflects on the company's financial performance for the year ended March 31, 2024, and its commitment to delivering value to its shareholders. However, investors should keep in mind that the final decision rests with the shareholders at the upcoming AGM.

Shareholders and potential investors are advised to keep an eye out for the announcement of the AGM date and the subsequent results, as these will determine the final approval and timing of the dividend payout.

Balmer Lawrie Investments Ltd. , a Government of India Enterprise, has announced its financial results, showcasing strong performance across its diverse business segments.

Financial Highlights

Balmer Lawrie Investments reported the following consolidated results:

• Total revenue increased to ₹6.83 billion from ₹6.40 billion year-over-year
• Consolidated net profit rose to ₹447 million compared to ₹412 million in the same period last year

Segment-wise Performance

The company operates across multiple segments, each contributing significantly to its overall growth:

Corporate Governance

The Board of Directors, at its meeting, made several key decisions:

1. Annual General Meeting: The 24th AGM is scheduled for September 23, at 4:00 P.M. at Ghanshyam Das Birla Sabhagar, Kolkata.

2. Dividend Consideration: The Record Date for dividend declaration, if approved at the AGM, is set for September 16.

3. E-voting Schedule: Remote e-voting for the AGM will be available from September 19 to September 22.

4. Secretarial Auditor Appointment: M/s. Minu Tulsian & Co., Company Secretaries, has been appointed as the Secretarial Auditor for five consecutive financial years, subject to shareholders' approval.

Regulatory Compliance

The company addressed concerns regarding non-compliance with certain SEBI regulations for the quarter ended March 31. Balmer Lawrie Investments, being a Central Public Sector Enterprise, explained that the composition of its Board of Directors is dependent on directives from the Ministry of Petroleum and Natural Gas, Government of India. The company has made representations to the stock exchange for waiver of the imposed fines, citing factors beyond its control.

Balmer Lawrie Investments' strong performance, coupled with its proactive approach to corporate governance and regulatory compliance, positions the company well for continued growth.