NIBE Ltd Share Price – BSE

Aerospace & Defence, Small Cap

NIBE announced that the Board of Directors of the Company at its meeting held on 27 May 2024, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Net profit of NIBE reported to Rs 10.91 crore in the quarter ended March 2024 as against net loss of Rs 0.45 crore during the previous quarter ended March 2023. Sales rose 143.01% to Rs 152.17 crore in the quarter ended March 2024 as against Rs 62.62 crore during the previous quarter ended March 2023.

For the full year,net profit rose 1110.83% to Rs 19.01 crore in the year ended March 2024 as against Rs 1.57 crore during the previous year ended March 2023. Sales rose 167.65% to Rs 281.84 crore in the year ended March 2024 as against Rs 105.30 crore during the previous year ended March 2023.

Powered by Capital Market - Live News

NIBE will hold a meeting of the Board of Directors of the Company on 27 May 2024

Powered by Capital Market - Live News

Hemant Wani has tendered his resignation due to other professional commitments on account of internal re-organization of duties within the group.

The company’s nomination and remuneration committee, has appointed Ravi Kumar Pareek as a chief financial officer (CFO) of the company with effect from 22 April 2024.

Ravi Kumar is a qualified Chartered Accountant with Bachelor of Commerce degree having a post qualification of experience of more than 12 years.

He has skills, expertise and experience in strategic financial planning, budgeting, forecasting, GAAP, IFRS/IND, cash flow optimization, debt management, stakeholder communication, mergers and acquisitions, risk management, and capital allocation with a proven track record in diverse industries including tyre manufacturing, metals & mining, pharmaceutical, wires & cable manufacturing.

NIBE trades in electronic components, fabrication materials, and provides technical consultancy. It also provides services for the design, supply, erection, testing, and commissioning of low and medium voltage lines and substations on a turnkey basis.

The company reported a consolidated net profit of Rs 4.38 crore in Q3 FY24, steeply higher from Rs 0.73 crore in Q3 FY23. Revenue from operations stood at Rs 62.69 crore in Q3 FY24, a steep increase from Rs 15.18 crore in Q3 FY23.

The scrip fell 4.60% to end at Rs 1,604.50 on Monday, 22 April 2024.

Powered by Capital Market - Live News