Monthly Corporate Action Tracker - ICICI...
Transcript of Monthly Corporate Action Tracker - ICICI...
Monthly Corporate Action Tracker
- Dossier of key corporate actions in May, 2018
May 9, 2018
Amit Gupta Bharat Chhoda Cheragh Sidhwa
[email protected] [email protected] [email protected]
Analysts Name:
2
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Companies likely to pay dividend in May 2018
3
Announced dividend
Source: Capitaline, ICICI Direct Research
Among the announced dividend
companies, ACC and JM
Financial have a consistent
dividend yield history
Probable dividend
Company Dividend Face value Dividend Dividend Yield
(%) (|) (|/share) (%)
HCL Technologies 100 2.00 2 0.2 9/5/2018
JM Financial 110 1.00 1.1 0.8 10/5/2018
Hexaware Tech. 50 2.00 1 0.3 14/05/2018
ACC 150 10.00 15 1.0 17/05/2018
Merck 150 10.00 15 0.7 21/05/2018
Ex-date
Company Dividend Face value Dividend Dividend Yield
(%) (|) (|/share) (%)
Godrej Consumer 1200 1.00 12 1.3 16/05/2017
Gillette India 1540 10.00 154 3.2 17/05/2017
P & G Hygiene 3620 10.00 362 4.7 17/05/2017
Castrol India 90 5.00 4.5 2.1 22/05/2017
DCB Bank 5 10.00 0.5 0.3 24/05/2017
Raymond 12.5 10.00 1.25 0.2 25/05/2017
Trident 3 10.00 0.3 0.4 25/05/2017
Gateway Distr. 40 10.00 4 1.7 25/05/2017
St Bk of India 260 1.00 2.6 0.9 26/05/2017
Yes Bank 120 2.00 2.4 0.8 29/05/2017
Last Years
Ex-date
Source: Capitaline, ICICI Direct Research
4
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Board meetings and AGM scheduled in May 2018
5
Source: Capitaline, ICICI Direct Research
AGM in May 2018
During May 2018, majority of the companies would be declaring their Q4FY18 and FY18 financial results. In the next three weeks, many large
cap companies like Zee Entertainment, Titan Company, Asian Paints, Nestlé, Hindustan Unilever and Lupin are expected to declare their
quarterly results. Also, Nestlé is holding its AGM while Tata Communication is holding its EGM in the second week of May.
Key Highlights
Board meetings in May 2018
Source: Capitaline, ICICI Direct Research
Company name Event Date Event Type Event Location
ITD Cem 10/5/2018 AGM Mumbai
Nestle India 10/5/2018 AGM New Delhi
Tata Comm 10/5/2018 EGM Mumbai
BITS 10/5/2018 EGM New Delhi
Rain Industries 11/5/2018 AGM Hyderabad
Company Name Meeting Date Board Meeting purpose
Nitin Spinners 10/5/2018 Dividend,Quarterly Results
KDDL Ltd 10/5/2018 Dividend,Quarterly Results
Udaipur Cement 10/5/2018 Quarterly Results,Conversion
RSWM Ltd 10/5/2018 Accounts,Quarterly Results
Guj. Borosil 10/5/2018 Accounts,Quarterly Results
Bharat Bijlee 10/5/2018 Accounts,Dividend
Volt.Transform. 10/5/2018 Quarterly Results,Dividend
Novartis India 10/5/2018 Quarterly Results,Final Dividend
Kennametal India 10/5/2018 Quarterly Results,Interim Dividend
Elantas Beck 10/5/2018 Quarterly Results
PSP Projects 10/5/2018 Accounts,Quarterly Results,Final Dividend
Welspun Enterp 10/5/2018 Accounts
Ingersoll-Rand 10/5/2018 Accounts
Poly Medicure 10/5/2018 Accounts,Dividend
Quick Heal 10/5/2018 Accounts,Dividend
T.V. Today Netw. 10/5/2018 Quarterly Results,Dividend
ITD Cem 10/5/2018 Quarterly Results
Navneet Educat. 10/5/2018 Quarterly Results,Dividend
Shankara Build. 10/5/2018 Dividend,AGM,Raising of Capital,Preferential Issue
C P C L 10/5/2018 Accounts,Dividend
Ujjivan Fin.Ser. 10/5/2018 Accounts,Dividend,Quarterly Results
Laurus Labs 10/5/2018 Accounts,Dividend
Chambal Fert. 10/5/2018 Accounts,Dividend
Fortis Health. 10/5/2018 Raising funds through Debt Instr.
Board meetings in May 2018
Company Name Meeting Date Board Meeting purpose
B H E L 29/05/2018 Quarterly Results
M & M 29/05/2018 Dividend,AGM,Accounts
Ultramarine Pig. 30/05/2018 Accounts,Dividend
Technocraf.Inds. 30/05/2018 Accounts
Mishra Dhatu Nig 30/05/2018 Dividend
La Opala RG 30/05/2018 Dividend
Bharat Dynamics 30/05/2018 Accounts,Final Dividend
V-Guard Inds. 30/05/2018 Quarterly Results
EIH 30/05/2018 Accounts,Dividend
Info Edg.(India) 30/05/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research
Board meetings scheduled in May 2018
6
Source: Capitaline, ICICI Direct Research
Board meetings in May 2018 Board meetings in May 2018
Source: Capitaline, ICICI Direct Research
Company Name Meeting Date Board Meeting purpose
Akzo Nobel 10/5/2018 Dividend,Accounts
KRBL 10/5/2018 Quarterly Results,Final Dividend
Union Bank (I) 10/5/2018 Accounts,Quarterly Results
TI Financial 10/5/2018 Accounts
Adani Enterp. 10/5/2018 Raising funds through Debt Instr.,Final Dividend
Indian Bank 10/5/2018 Quarterly Results,Dividend
Apollo Tyres 10/5/2018 Accounts,Dividend
Tata Comm 10/5/2018 Dividend,Quarterly Results
Adani Transmissi 10/5/2018 Quarterly Results,Private Placement Basis
MphasiS 10/5/2018 Accounts,Dividend
Zee Entertainmen 10/5/2018 Quarterly Results,Dividend
Titan Company 10/5/2018 Quarterly Results,Dividend
Nestle India 10/5/2018 Quarterly Results,Interim Dividend
Asian Paints 10/5/2018 Accounts,Quarterly Results,Final Dividend
RPP Infra Proj. 11/5/2018 Dividend,Accounts
Neuland Labs. 11/5/2018 Accounts
TVS Elec. 11/5/2018 Accounts
Sutlej Textiles 11/5/2018 Accounts,Dividend
Sical Logistics 11/5/2018 Accounts
Genus Power 11/5/2018 Quarterly Results,Dividend
Saregama India 11/5/2018 Accounts,Dividend
Kesoram Inds. 11/5/2018 Accounts
Khadim India 11/5/2018 Accounts,Dividend,Quarterly Results
Savita Oil Tech 11/5/2018 Accounts,Final Dividend
Company Name Meeting Date Board Meeting purpose
Gabriel India 11/5/2018 Quarterly Results
Kirl. Brothers 11/5/2018 Dividend,Quarterly Results
Nilkamal Ltd 11/5/2018 Accounts,Final Dividend
VST Till. Tract. 11/5/2018 Quarterly Results,Final Dividend
Puravankara 11/5/2018 Dividend
United Bank (I) 11/5/2018 Raising of Capital
Allahabad Bank 11/5/2018 Accounts,Quarterly Results
Dena Bank 11/5/2018 Quarterly Results,Dividend
UCO Bank 11/5/2018 Accounts
Westlife Develop 11/5/2018 Accounts
SpiceJet 11/5/2018 Accounts
Relaxo Footwear 11/5/2018 Quarterly Results,Final Dividend
Solar Inds. 11/5/2018 Accounts,Final Dividend,AGM
Rain Industries 11/5/2018 Quarterly Results
Aarti Inds. 11/5/2018 Dividend
Aditya Bir. Fas. 11/5/2018 Accounts,Issue of Debentures,Private Placement Basis
Gujarat Gas 11/5/2018 Dividend
Graphite India 11/5/2018 Accounts,Final Dividend
Tata Global 11/5/2018 Quarterly Results,Dividend
Canara Bank 11/5/2018 Accounts,Quarterly Results
Gillette India 11/5/2018 Quarterly Results
GlaxoSmith C H L 11/5/2018 Accounts,Dividend
P & G Hygiene 11/5/2018 Quarterly Results
Havells India 11/5/2018 Quarterly Results,Dividend
Board meetings scheduled in May 2018
7
Source: Capitaline, ICICI Direct Research
Board meetings in May 2018 Board meetings in May 2018
Source: Capitaline, ICICI Direct Research
Company Name Meeting Date Board Meeting purpose
Sun TV Network 11/5/2018 Accounts,Quarterly Results
Oracle Fin.Serv. 11/5/2018 Quarterly Results,Dividend
Gallantt Ispat 12/5/2018 Dividend
Bajaj Hindusthan 12/5/2018 Accounts,Dividend,AGM
PTC India Fin 12/5/2018 Quarterly Results,Dividend
Vinati Organics 12/5/2018 Quarterly Results,Dividend
J K Cements 12/5/2018 Quarterly Results,Dividend,Private Placement Basis
Vardhman Textile 12/5/2018 Dividend
N R Agarwal Inds 14/05/2018 Dividend
Majesco 14/05/2018 Accounts,Quarterly Results
Nirlon 14/05/2018 Accounts
Balaji Amines 14/05/2018 Accounts,Dividend
South Ind.Bank 14/05/2018 Quarterly Results,Dividend
Polaris Consulta 14/05/2018 Accounts
Bombay Dyeing 14/05/2018 Quarterly Results,Dividend
Dr Lal Pathlabs 14/05/2018 Quarterly Results,Final Dividend
Blue Star 14/05/2018 Quarterly Results,Dividend
Abbott India 14/05/2018 Accounts,Dividend
Godrej Agrovet 14/05/2018 Dividend
Honeywell Auto 14/05/2018 Accounts,Dividend
Hind. Unilever 14/05/2018 Accounts,Final Dividend
DIL 15/05/2018 Others
Mangalam Cement 15/05/2018 Dividend,Quarterly Results
Texmaco Infrast. 15/05/2018 Quarterly Results,Dividend
Company Name Meeting Date Board Meeting purpose
Electrost.Cast. 15/05/2018 Quarterly Results,Dividend
Clariant Chemica 15/05/2018 Accounts
INEOS Styrolut. 15/05/2018 Dividend
Texmaco Rail 15/05/2018 Accounts,Quarterly Results,Dividend
Karnataka Bank 15/05/2018 Accounts,Dividend
Monsanto India 15/05/2018 Dividend,Accounts
P I Inds. 15/05/2018 Quarterly Results,Final Dividend
Crompton Gr. Con 15/05/2018 Dividend
Endurance Tech. 15/05/2018 Quarterly Results,Dividend
M R P L 15/05/2018 Accounts,Dividend
Lupin 15/05/2018 Accounts,Dividend
Britannia Inds. 15/05/2018 Accounts,Dividend
VIP Clothing 16/05/2018 Accounts
Manali Petrochem 16/05/2018 Dividend
Hind.Natl.Glass 16/05/2018 Accounts
Zee Media 16/05/2018 Quarterly Results,Dividend
Pun. & Sind Bank 16/05/2018 Accounts
Transport Corp. 16/05/2018 Accounts,Quarterly Results
Tasty Bite Eat. 16/05/2018 Accounts,Dividend
PTC India 16/05/2018 Quarterly Results,Final Dividend
Mah. Scooters 16/05/2018 Quarterly Results,Dividend
JK Lakshmi Cem. 16/05/2018 Quarterly Results,Dividend
G S F C 16/05/2018 Accounts,Dividend
Birla Corpn. 16/05/2018 Dividend
Board meetings scheduled in May 2018
8
Source: Capitaline, ICICI Direct Research
Board meetings in May 2018 Board meetings in May 2018
Source: Capitaline, ICICI Direct Research
Company Name Meeting Date Board Meeting purpose
AIA Engg. 16/05/2018 Dividend
TVS Motor Co. 16/05/2018 Accounts
Hindalco Inds. 16/05/2018 Dividend
JSW Steel 16/05/2018 Dividend
MIRC Electronics 17/05/2018 Accounts
Kirloskar Indus. 17/05/2018 Quarterly Results,Dividend
TajGVK Hotels 17/05/2018 Quarterly Results,Dividend
Siti Networks 17/05/2018 Others
Orient Refrac. 17/05/2018 Accounts,Final Dividend
Bliss GVS Pharma 17/05/2018 Dividend
KEI Inds. 17/05/2018 Accounts,Dividend,Quarterly Results
ICRA 17/05/2018 Quarterly Results,Dividend
Coffee Day Enter 17/05/2018 Accounts,Quarterly Results
Escorts 17/05/2018 Others
WABCO India 17/05/2018 Quarterly Results,Dividend
Voltas 17/05/2018 Accounts,Dividend
Bajaj Finserv 17/05/2018 Accounts,Dividend
Bajaj Fin. 17/05/2018 Accounts,Dividend
Pennar Inds. 18/05/2018 Accounts
Nelcast 18/05/2018 Dividend
Alkyl Amines 18/05/2018 Accounts
Asian Granito 18/05/2018 Accounts,Dividend,Quarterly Results
JTEKT India 18/05/2018 Accounts,Dividend
Manappuram Fin. 18/05/2018 Accounts
Company Name Meeting Date Board Meeting purpose
Thermax 18/05/2018 Quarterly Results
Amara Raja Batt. 18/05/2018 Accounts,Dividend
Bajaj Holdings 18/05/2018 Accounts,Dividend
Ashok Leyland 18/05/2018 Quarterly Results,Dividend
Bajaj Auto 18/05/2018 Accounts,Dividend
NACL Industries 19/05/2018 Accounts
IFGL Refractori. 19/05/2018 Accounts,Dividend,Others
Gulf Oil Lubric. 19/05/2018 Dividend
ITI 19/05/2018 Accounts
PPAP Automotive 21/05/2018 Dividend
Indian Metals 21/05/2018 Dividend
Action Const.Eq. 21/05/2018 Dividend,Quarterly Results
Timken India 21/05/2018 Quarterly Results
TTK Prestige 21/05/2018 Accounts,Dividend,AGM
Aster DM Health. 21/05/2018 Accounts
Colgate-Palm. 21/05/2018 Quarterly Results
Health.Global 22/05/2018 Accounts
Allcargo Logist. 22/05/2018 Accounts,Dividend,Raising funds through Debt Instr.
CARE Ratings 22/05/2018 Dividend
Sundaram Clayton 22/05/2018 Accounts
Bata India 22/05/2018 Quarterly Results,Dividend
L&T Technology 22/05/2018 Dividend
Dr Reddy's Labs 22/05/2018 Dividend,Accounts
Cipla 22/05/2018 Quarterly Results,Dividend
Board meetings scheduled in May 2018
9
Source: Capitaline, ICICI Direct Research
Board meetings in May 2018 Board meetings in May 2018
Source: Capitaline, ICICI Direct Research
Company Name Meeting Date Board Meeting purpose
I O C L 22/05/2018 Quarterly Results,Final Dividend
Amrit Corp 23/05/2018 Accounts,Dividend
Repco Home Fin 23/05/2018 Dividend
Bajaj Electrical 23/05/2018 Accounts,Dividend
Johnson Con. Hit 23/05/2018 Accounts
The Ramco Cement 23/05/2018 Accounts,Dividend
Godrej Inds. 23/05/2018 Accounts,Dividend,Quarterly Results
L & T Infotech 23/05/2018 Quarterly Results,Final Dividend
Motherson Sumi 23/05/2018 Dividend,Accounts,Quarterly Results
Grasim Inds 23/05/2018 Accounts,Dividend
Timex Group 24/05/2018 Quarterly Results
Goodricke Group 24/05/2018 Quarterly Results,Dividend
Honda Siel Power 24/05/2018 Dividend
JMC Projects 24/05/2018 Quarterly Results,Dividend
Ramco Inds. 24/05/2018 Accounts,Dividend
L T Foods 24/05/2018 Quarterly Results,Final Dividend
Heritage Foods 24/05/2018 Accounts,Dividend,AGM
Sudarshan Chem. 24/05/2018 Quarterly Results,Final Dividend
Zydus Wellness 24/05/2018 Others
Glaxosmi. Pharma 24/05/2018 Accounts,Dividend
United Spirits 24/05/2018 Others
Pidilite Inds. 24/05/2018 Accounts,Dividend
Control Print 25/05/2018 Dividend,Quarterly Results
Sanghvi Movers 25/05/2018 Accounts,Quarterly Results
Company Name Meeting Date Board Meeting purpose
Zuari Agro Chem. 25/05/2018 Dividend
TCI Express 25/05/2018 Quarterly Results
Shriram EPC 25/05/2018 Accounts
Ramkrishna Forg. 25/05/2018 Accounts,Dividend
J B Chem & Pharm 25/05/2018 Dividend
FDC 25/05/2018 Quarterly Results,Dividend
PC Jeweller 25/05/2018 Quarterly Results
Lak. Mach. Works 25/05/2018 Accounts,Dividend
Cadila Health. 25/05/2018 Dividend
Tech Mahindra 25/05/2018 Quarterly Results,Dividend
Seshasayee Paper 26/05/2018 Dividend
Sandhar Tech 26/05/2018 Accounts,Quarterly Results
Meghmani Organ. 26/05/2018 Accounts,Dividend
Precision Camshf 28/05/2018 Quarterly Results,Dividend
EIH Assoc.Hotels 28/05/2018 Accounts,Quarterly Results
Caplin Point Lab 28/05/2018 Quarterly Results,Dividend
Finolex Cables 28/05/2018 Dividend,Accounts
Rajapalayam Mill 29/05/2018 Dividend
Mukand 29/05/2018 Accounts
Greencrest Finan 29/05/2018 Quarterly Results
Unichem Labs. 29/05/2018 Accounts,Dividend
Balmer Lawrie 29/05/2018 Quarterly Results,Dividend
Suprajit Engg. 29/05/2018 Quarterly Results,Final Dividend
Prism Cement 29/05/2018 Accounts,Quarterly Results
10
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Corporate actions announced in May 2018
11
Stock split
Ongoing open offer
Source: Capitaline, ICICI Direct Research
Source: Capitaline, ICICI Direct Research
Face value before Face value after
Company Name Ratio split split Record date
Zensar Tech. 5:1 10.0 2.0 NA
Thirumalai Chem. 10:1 10.0 1.0 NA
United Spirits 5:1 10.0 2.0 NA
Container Corpn. 2:1 10.0 5.0 NA
Lumax Auto Tech. 5:1 10.0 2.0 NA
B.C. Power 5:1 10.0 2.0 NA
Offer Start Offer Close Offer Price Proposed Acquisition Proposed Acquisition
Company Date Date (|) (No. of shares in crore) (% Capital)
Golden Tobacco 27/04/2018 16/05/2018 101.0 0.4 25.0
SQS India BFSI 3/5/2018 16/05/2018 483.0 0.3 26.0
MT Educare 3/5/2018 16/05/2018 72.8 1.9 26.0
Sh.Renuka Sugar 4/5/2018 17/05/2018 16.3 49.8 26.0
Dish TV 5/6/2018 18/06/2018 74.0 50.0 26.0
Merck 13/06/2018 26/06/2018 1500.4 0.4 26.0
12
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Major stakeholder’s activity seen in April 2018
Source: Capitaline, ICICI Direct Research
Major stakeholder’s activity in April 2018
Smallcap World Fund purchased 107.3 lakh shares (2.0%) of Infibeam Incorp.
Zend Mauritius VC Investments sold 250 lakh shares (10.5%) of Magma Fincorp
CLSA Global sold 730.6 lakh shares (8.8%) of Hathway Cable
Bhadresh K Shah (Promoter) sold 30 lakh shares (3.2%) of AIA Engineering to DSP Blackrock Midcap Fund
Key Highlights
Company No of shares Bought/Sold Total Equity Net change % of total
(In lakhs) (In lakhs) (%)
Infibeam Incorp. 107.3 5427.8 2.0
Magma Fincorp -250.0 2370.3 -10.5
Hathway Cable -730.6 8304.9 -8.8
AIA Engg. -30.0 943.2 -3.2
14
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Preferential allotment in April 2018
Source: Capitaline, ICICI Direct Research
Preferential allotment in April 2018
The momentum related to raising money through preferential allotment appears to be tapering. During April 2018, 18 companies raised capital
through preferential allotment compared to a monthly average of 32 companies in H2FY18.
Company No.of Eq. Shares Face Value Issue Price Issued To Issued Category Date of allotment
(in crore) (|) (|)
H D F C 0.05 2 0 Equity Shares NA 19/04/2018
Magma Fincorp 3.23 2 155 NA QIP 12/4/2018
Paramount Comm. 1.70 2 0 Sanjay Aggarwal & PACs Promoter Group 28/04/2018
Generic Engineer 0.36 10 0 NA Non-Promoters 12/4/2018
Uniply Inds. 0.45 10 390.85 NA Non Promoters 25/04/2018
Rushil Decor 0.02 10 945 NA NA 28/04/2018
Rushil Decor 0.01 10 945 Manish Shailendra Srivastava Non-Promoter 28/04/2018
Rushil Decor 0.01 10 945 Rakesh Bhagwan Das Arora Non-Promoter 28/04/2018
Kiri Indus. 0.11 10 363 NA Promoter 2/4/2018
MEP Infrast. 2.09 10 77.5 NA QIPs 4/4/2018
Health.Global 0.09 10 321 M Gopichand NA 9/4/2018
16
Deal Team – At Your ServiceCorporate Action Tracker- May 2018
Preferential allotment in April 2018
2
3
4
5
Board meetings and AGM for May 2018
Major stakeholder’s activity in April 2018
Stock split and open offer for May 2018
Announced/Probable dividend1
Historical trends of corporate actions6
Deal Team – At Your Service
17
Historical trend of rights and bonus issues
Number of rights issues- CNX 500 Number of bonus issues- CNX 500
Source: Capitaline, ICICI Direct Research
Of the CNX 500 companies, rights issue has gained currency as a method to raise capital with seven companies
raising funds to the tune of | 4780 crore through rights issue in CY17 compared to two companies raising funds of
| 910 crore in CY16
Total 29 companies have announced bonus issue in CY17 compared to 16 companies in CY16
Key Highlights
6
8 8
5 5
7
5
2
7
3
0
1
2
3
4
5
6
7
8
9
CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18
(upto
April
2018)
Number of rights Issue (CNX 500 Companies)
8
28
1412 12
10
1716
29
4
0
5
10
15
20
25
30
35
CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18
(upto
April
2018)
Number of Bonus Issues
Deal Team – At Your Service
18
Historical trend of stock splits and dividend payouts
Number of stock splits- CNX 500 Average dividend payout ratio (%) for CNX 500
Source: Capitaline, ICICI Direct Research
Post the implementation of the new 10% dividend tax, companies are opting for share buybacks over dividends.
Average dividend payout ratio has been on a downward trend with the ratio declining from 36.5% in FY15 to 23%
in FY17
Total 10 companies have announced stock split in CY17 compared to 15 companies in CY16
Key Highlights
11
39
18
7 6
12 1315
10
1
0
5
10
15
20
25
30
35
40
45
CY09 CY10 CY011 CY12 CY13 CY14 CY15 CY16 CY17 CY18
(upto
April
2018)
Number of stock Split
20.0
22.6 23.321.8
24.7
28.1
30.5
36.5
26.0
23.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
Dividend Payout Ratio
19
Pankaj Pandey Head – Research [email protected]
ICICI Direct Research Desk,
ICICI Securities Limited,
1st
Floor, Akruti Trade Centre,
Road no.7, MIDC
Andheri (East)
Mumbai – 400 093
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ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have
been mandated by the subject company for any other assignment in the past twelve months.
ICICI Securities or its associates might have received any compensation from the companies mentioned in the report during the period
preceding twelve months from the date of this report for services in respect of managing or co-managing public offerings, corporate
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It is confirmed that, Amit Gupta B.E, MBA (Finance), Bharat Chhoda MBA, Cheragh Sidhwa, MBA, Research Analysts of this report have not
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