Wim Plast Delivers Robust March Quarter, Recommends ₹10 Final Dividend Amid Profit Surge

Wim Plast Ltd has reported a strong financial performance for the March 2024 quarter, underlining its resilience and commitment to shareholder value. The company posted a consolidated revenue from operations of ₹1.06 billion (₹106 crore) and a net profit of ₹176.7 million (₹17.67 crore), alongside a recommended final dividend of ₹10 per share for FY24.

 

Solid Revenue Growth:

Wim Plast’s consolidated net sales for the March 2024 quarter reached ₹98.09 crore, marking an 8.36% increase from ₹90.52 crore in the same period last year. Total income from operations stood at ₹1.06 billion, reflecting strong demand and operational efficiency.

 

Profit Surges Over 23%:

Net profit for the quarter climbed to ₹16.28 crore, up 23.29% year-on-year from ₹13.21 crore. The company’s EBITDA also rose 18% to ₹24.38 crore, demonstrating effective cost management and improved margins.

 

Dividend Reward:

The Board has recommended a final dividend of ₹10 per equity share (100% of face value) for FY24, pending approval at the upcoming AGM. The ex-dividend date is August 2, 2024, with payment scheduled on or after August 15, 2024 to all shareholders on record as of August 3, 2024.

 

Consistent Shareholder Returns:

Wim Plast continues its tradition of rewarding investors, with the latest dividend translating to a yield of approximately 3.85% at current market prices. The company has steadily increased its dividend payout over recent years.

 

Market Performance:

Shares of Wim Plast closed at ₹531.05 on May 22, 2024, reflecting investor confidence and a positive outlook for the plastics sector.

 

With robust revenue growth, strong profitability, and a generous dividend, Wim Plast reaffirms its position as a leading performer in the industry.

 

Sources: Moneycontrol, Marketscreener, INDmoney, BlinkX