Debt-free stocks to pay 1200% dividend, mutual fund stake in Q3: Buy?

 

With market capitalization of Rs. 45,856.37 crore, Schaeffler India is a Large-cap company operating in the Consumer Discretionary industry.

With market capitalization of Rs. 45,856.37 crore, Schaeffler India is a Large-cap company operating in the Consumer Discretionary industry. The company provides rolling and plain bearing solutions for a wide range of industrial applications, as well as components and systems for engine, transmission and chassis applications. With four manufacturing plants and 11 sales offices, Schaeffler has a substantial footprint in India with three leading, well-known product brands: FAG, INA and LuK.

Schaeffler India Dividend

Declaring its Q3FY23 earnings, Schaeffler India declared a dividend of 1200% or Rs. 24/- per equity share of face value of Rs. 2/- each. The Company will close its Share Transfer Books and Register of Members from Wednesday, April 12, 2023 to Tuesday, April 18, 2023 in preparation for its 60th Annual General Meeting and to compile a list of its shareholders. Eligible for dividend payment. Moreover, the dividend ex-date of Schaeffler India is falling on April 11, 2023, as per BSE.

Schaeffler India's third quarter earnings

₹1794.65 Cr was reported by the company as revenue from operations in Q3FY23, a 17.8% YoY growth from ₹1523.20 Cr in Q3FY22. The company said its net expenses reached ₹1,503.35 crore during the quarter ended December 2022, up 16.71% from ₹1288.10 crore recorded in the year-ago quarter. The company's net income grew by 21.2% to ₹230.98 crore in the quarter ended December 2022 from ₹190.64 crore in the quarter ending December 2021, while PAT margin remained at 12.9%. As compared to Q3FY22's EPS of Rs. 12.2 The EPS of Schaeffler India in Q3FY23 was ₹14.8.

sheffler india share price

On Friday, shares of Schaeffler India closed at ₹2,940 on the NSE, down 1.79% from its previous close of ₹2,993.60. The stock has given multibagger return of 175.77% in last five years and 217% in last three years. The stock has appreciated 61.24% in the last one year, and it has climbed 8.06% in 2023 (YTD). The stock touched a 52-week high of ₹3,969.85 (15-Sep-2022) and 52-week low of ₹1,650.05 on (07-Mar-2022). During Q3FY23, the company recorded promoter shareholding of 74.13%, FII holding of 4.81%, DII holding of 15.04% and public holding of 6.02%.