Details of the dividend
In its board meet on April 11, 2022, the company approved an interim and final dividend of Rs. 25. In the filing, the company said, “Board of Directors at their meeting held today declared an Interim Dividend of Rs. 25/- (Rupees
twenty-five only) per equity share of Rs. 10/- each for the year 2022 on the entire issued, subscribed and paid-up share capital
of the Company of 9,64, 15,716 equity shares of the nominal value of Rs. 10/- each.
Further at the 63rd Annual General Meet on April 12, the shareholders gave a go-ahead to the payment of 2Interim Dividends aggregating to Rs.135/- per equity share for the financial year 2021 and
declared Final Dividend of Rs. 65/- per equity shares for the financial year ended 31 st December 2021.
Ex and record date for the dividend pay-out
For the interim dividend and final dividend for the fiscal year ended December 2021, the company has kept the ex-date as April 21 and record date as April 22, 2022.
Dividend payment date
Again as per the filing, interim dividend for the year will be paid on and from 6th May 2022.
|Stock||Interim dividend||Final Dividend||Ex-date||Record date||Dividend payment date|
|Nestle India||Rs. 25||Rs. 65||21st April||22nd April||On and from May 6|
Financials of the company
For the December ended quarter which is also the financial year end for the concern, the company’s income from operations came in at Rs. 3739 crore which is a marginal increase on a YoY basis. Net profit at the concern though has been falling on a YoY basis and came in at Rs. 386.66 crore primarily on increasing cost pressure.
Is Nestle India stock a ‘Buy’?
Nestle India has been given a ‘Buy’ by several brokerages. Sharekhan has the most bullish target price for the company with a target price of Rs. 22395. This is an upside of 22%. The brokerage mentions that “estle has registered decent performance in Q4CY2021 in the backdrop of tough business environment of
rural slowdown and raw material inflation. Revenues grew by 8.4% y-o-y to Rs. 3,706.2 crore led by 9.2%growth in the domestic business. The volume growth in the domestic business remained consistent at 8%
vs. 8.9% in Q3CY2021. Revenue growth in the tier 2 and rural markets stood at 13.7% and 9.0% during he quarter. Gross margins decreased by 205 bps to 57% while operating efficiencies and judicious cost-
saving measures drove up OPM by 51 bps to 23.2%. Adjusted PAT grew by 16.2% y-o-y to Rs. 561.7 crore.For CY2021, Nestle’s revenues grew by 10.2% (volumes rose 9.6%); OPM expanded by 44 bps to 24.4% and
adjusted PAT grew by 11.4% y-o-y to Rs. 2319.9 crore. It paid a dividend of Rs. 200 per share in CY2021