Board of Directors of Housing and Urban Development Corporation (Hadco) Today, is ready to complete March 10, to consider the announcement of a second interim dividend for the financial year 2024-25.
According to the company’s press release on March 3, record date for determining shareholder eligibility for another interim dividend The approval of the board has been scheduled for Friday, March 14, 2025. The record date acts as a cut-off to qualify for corporate functions for shareholders, including dividends and stock divisions. Given India’s T +1 settlement cycle, investors will have to buy shares at least one day before being recognized as shareholders on a record date.
In the last 12 months, Hadco has declared an equity dividend total. 4.15 per share. Earlier this year, the company announced an interim dividend 2.05 per share for FY25, on January 30, set as a record date for eligibility.
financial performance
In terms of financial performance, Hadco recorded a 42 percent increase in net profit from year to year. 735 crores in Q3Fy25Compared to 519.23 crore in the respective quarter of last year. 37 percent increase in revenue was also seen, reaching 2,760 crores, from above 2,013 crore in Q3Fy24.
Market reaction
Hadco’s stock fell by 1 percent on Monday, reaching one day low 180.30. Stock has fallen by 49 percent from its peak 353.95, recorded in July 2024. However, it has recovered 18 percent from its 52-week level. 152.65, touched in March 2024.
Based on one year, PSU stock There has been a decline of 10 percent. Despite this, it has exceeded 10 percent in March so far, leaving back after three consecutive months of loss. The stock fell 28 percent in February, 2 percent in January and 1.6 percent in December.
Other strategic development
Hadco has revised its borrowing plan for FY25, which has increased it 40,000 crores 55,000 crores citing “Quantum Jump in Business” as the primary reason for the decision.
Additionally, the company recently announced its planned exit from IBHL (IBHL). However, there was no specific reason in exchange filing regarding exit strategy.
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