This kitchen stock with Rs 100 dividend turns ex-dividend today; hit record high in previous session

Shares of Hawkins Cookers Ltd are in focus as the stock will turn ex-dividend today. Hawkins Cookers declared a dividend of Rs 100 per share for the financial year ended March 31, 2023 for the shareholders. Hawkins Cookers stock ended 1.86% higher at Rs 6849.75 on Tuesday against the close of Rs 6724.50 in the previous trading session on BSE. The stock of Hawkins Cookers hit a record high of Rs 6898 in the same session.

The stock has climbed 22.78% in a year and risen 10% in 2023.

Total 2501 shares of the firm changed hands amounting to a turnover of Rs 1.71 crore on BSE. Market cap of the firm rose to Rs 3622 crore on Tuesday.

In terms of technicals, the relative strength index (RSI) of the stock stands at 74.5, signaling the stock is overbought. Hawkins Cookers has a one-year beta of 0.2, indicating very low volatility during the period. Hawkins Cookers shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

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The dividend is subject to the approval of the shareholders at the ensuing 63rd Annual General Meeting (AGM) to be held on Wednesday, August 9, 2023. The board will also announce the Q1 earnings of the firm on the same day.

The dividend shall be paid latest by September 8, 2023. The dividend, if approved at the AGM, will be payable to those Members whose names appear in the Company as Register of Members on August 2, 2023.

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Hawkins Cookers reported a profit of Rs 22.8 crore in Q4 of last fiscal against Rs 21.4 crore in the March quarter of corresponding fiscal. Revenue fell to Rs 255.2 crore in Q4 FY23 against Rs 272.9 crore in Q4 FY22.

Profit before tax rose to Rs 30.4 crore in the March 2023 quarter against Rs 28.9 crore in the March 2022 quarter. EBITDA margin in the March quarter rose to 12.6% as against 11.42% YoY. EBITDA during Q4 came at Rs 32 crore against Rs 31 crore against the same quarter in the previous year.

Hawkins Cookers is engaged in the manufacture, trading and sale of kitchenware.

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