Arvind Investors See Huge Returns
Consolidated net profit of textile manufacturing company Arvind Limited in the fourth quarter of the financial year 2023-24 increased by 7.32 percent to Rs 104.42 crore.
The company's net profit in the fourth quarter (January-March) of the financial year 2022-23 was Rs 97.3 crore.
At the same time, in the last one year, there has been a great rise in the stock and in just one year, the stock has provided returns of more than 200% to its investors.
operational income
Arvind Limited said in its information given to the stock market that the operational income in the quarter under review was Rs 2,074.51 crore whereas it was Rs 1,880.76 crore in the same period a year ago.
The Board of Directors of the company has recommended a final dividend of Rs 3.75 per share and a one-time special dividend of Re 1 per share, aggregating to a dividend of Rs 4.75 per share of face value Rs 10 for the financial year ending March 31, 2024. . For this, approval of the shareholders will be required in the upcoming annual general meeting.
net profit
The consolidated net profit of the company for the financial year 2023-24 was Rs 352.63 crore which was Rs 413.17 crore in the financial year 2022-23.
The operational income in the financial year 2023-24 stood at Rs 7,737.75 crore, while in the financial year 2022-23 it was Rs 8,382.48 crore.
its approval
According to Arvind Limited, its board of directors has also approved changing the post of Sanjay Lalbhai from Chairman and Managing Director to only Chairman.
Puneet Lalbhai will now be only Vice Chairman instead of Vice Chairman and Executive Director. Apart from this, the post of Kulin Lalbhai will now be that of Vice Chairman instead of Executive Director.
stock rise
On May 6, the share price was around Rs 332. Whereas on NSE its 52 week high price has been Rs 340 and its 52 week low price has been Rs 105. In the last one month, the stock has given returns of more than 11% to its investors.
The stock has given a return of 62% in the last 6 months. Along with this, the stock has given returns of more than 200% to its investors in the last one year.