Neelamalai Agro Industries Declares 300% Dividend Amid Challenging Year
Neelamalai Agro Industries Ltd announced a 300% dividend (₹30 per share) for the financial year, totaling ₹186.62 lakhs. The company's profit after tax decreased to ₹344.92 lakhs from ₹2,087.51 lakhs in the previous year. Total income fell to ₹3,161.45 lakhs from ₹3,521.06 lakhs. Tea production declined to 13.14 lakh kg from 14.31 lakh kg, with average yield dropping to 2,308 kg per hectare. However, sales average improved to ₹150.18 per kg from ₹132.60 per kg. Book closure for dividend payment and AGM is set for August 12-18, with the record date on August 11.
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Neelamalai Agro Industries Ltd, a prominent tea plantation company, has announced a 300% dividend for the financial year, despite facing a challenging year with reduced profits.
Financial Performance
The company reported a significant decrease in profit after tax, which stood at ₹344.92 lakhs, compared to ₹2,087.51 lakhs in the previous year. This decline can be attributed to various factors, including a decrease in total income from ₹3,521.06 lakhs to ₹3,161.45 lakhs.
Tea Production and Sales
Production
- Current year: 13.14 lakh kg
- Average yield: 2,308 kg per hectare
- Previous year: 14.31 lakh kg
- Previous year average yield: 2,512 kg per hectare
Sales
- Current year average: ₹150.18 per kg
- Previous year average: ₹132.60 per kg
Dividend Announcement
Despite the challenging year, Neelamalai Agro Industries has declared a dividend of 300% (₹30 per share) on equity share capital. This amounts to a total payout of ₹186.62 lakhs.
Book Closure and Annual General Meeting
- Book closure dates: August 12 to August 18 (both days inclusive)
- Purpose: Dividend payment and 82nd Annual General Meeting
- Record date for equity shares: August 11
Future Outlook
While the company faced headwinds, the maintenance of a high dividend payout suggests confidence in its long-term prospects. The improvement in sale average price per kg of tea indicates a positive trend in market demand, which could bode well for future performance.
Investors and stakeholders will be watching closely to see how Neelamalai Agro Industries navigates the challenges in the tea industry and capitalizes on potential opportunities in the coming year.
Historical Stock Returns for Neelamalai Agro Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.96% | +0.45% | -2.74% | +11.66% | -24.02% | +253.37% |
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