Mahalaxmi’s AGM on Oct 6, proposes only 13 pc cash dividend

Sharesansar, Sept 11:

Mahalaxmi Finance Limited is going to hold its 18th Annual General Meeting on October 6.

A meeting of the finance company’s board of directors on Monday took the decision to this effect.

The BoD meeting has, however, proposed only 13 percent cash dividend to its shareholders from the net profit it posted in the last fiscal year.

It may be noted that the finance company had reported a robust profit of Rs 7 crore 21 lakhs in the last fiscal year, which is a 93.10 percent rise as compared to the profit it made in the previous fiscal year.

The company’s deposits increased from Rs 2 arba 53 crore in the previous fiscal year to Rs 2 arba 81 crore

In the last fiscal year, the finance company had issued loans and advances worth Rs 2 arba 42 crore, which is again a 25.31 percent increment from the previous fiscal year’s Rs 1 arba 93 crore.

The finance’s EPS stands at Rs 17.17 and its net worth is currently valued at Rs 132.99.