Aditya Birla group stock recommends 100% dividend, Q4 PAT tumbles 70%: Do you own?

Century Enka is a small cap textile company that recorded a market cap of 853.92 Cr during Friday’s closing session. Century Enka, a subsidiary of the Aditya Birla Group, is a prominent manufacturer of high-quality Nylon Tyre Cord Fabric (NTCF), which is used as a reinforcement material in bias tyres, and Nylon Filament Yarn (NFY), which is mostly used in the garment industry. Century Enka is India’s largest maker of NFY and second largest manufacturer of NTCF.

“The Board of Directors has also recommended a dividend at the rate of 100% (i.e., Rs.10/- per Equity Share of Rs.10/- each) for the financial year ended on 31st March 2023,” said Century Enka in a stock exchange filing.

During Q4FY23, the company recorded a net income of 479.79 Cr down by 16.88% YoY from 577.21 Cr in Q4FY22. During the quarter ended March 2023, its net profit stood at 14.51 Cr down by 70.78% YoY from 49.65 Cr in the quarter ended March 2022. The EPS of Century Enka reached 6.64 during the quarter under review down by 70.77% YoY from 22.72 in the corresponding quarter.

During the financial year ended March 2023, the company reported a net income of 2091.09 Cr down by 1.29% YoY from 2118.46 Cr in the financial year ended March 2022. During 12MFY23 its net profit reached 90.44 Cr down by 50.89% YoY from 184.16 Cr in 12MFY22 and its EPS dropped by 50.89% YoY from 84.28 to 41.39.

On Friday the shares of Century Enka closed on the NSE at 390 apiece down by 4.98% from the previous close of 410.45. The stock touched a 52-week-high of 523.75 on (18-May-2022) and a 52-week-low of 340.00 on (28-Mar-2023). During Q4FY23, the company reported promoters shareholding of 24.79%, FIIs stake of 3.35%, DIIs stake of 4.74% and a public stake of 67.11%.

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