Ngadi Group Power Limited (NGPL) Proposes 21.05% Dividend and 1: 2 Rights Offering

Ngadi Group Power Limited (NGPL) has proposed a 21.05% dividend for the fiscal year 2077/78.

The meeting of the board of directors held on Shrawan 31 has decided to distribute 20% in bonus shares and 1.05% in cash dividend for tax purposes. The bonus shares are worth Rs. 11,78,22,060.

Furthermore, the board has also proposed 1: 2 rights shares for shareholders. This will be issued from the paid-up capital maintained after the adjustment of the aforementioned bonus shares.

Note that the proposals are subject to endorsement from the company's upcoming AGM. As of writing, NGPL has an LTP of Rs. 1,270. The company has posted net profit growth of 110.26% in the fourth quarter (Q4) of FY 2077/78. The profit increased to Rs. 12.27 crores from Rs. 5.83 crores in the corresponding quarter of the previous year.

Its earnings per share stand at Rs 20.84, net worth per share at Rs 123.14, and P/E ratio stood at 27.35 times.