eClerx Services stock in focus as IT firm announces share buyback, dividend & Q4 results
EClerx Services share buyback: The IT firm said its board has approved the proposal of buy back of not exceeding 13,75,000 fully paid-up equity shares of face value Rs 10 each for an amount not exceeding Rs 385 crore.
- May 17, 2024,
- Updated May 17, 2024 9:05 AM IST
Shares of eClerx Services Ltd will be in focus on Friday morning after the Mumbai-based IT firm announced share buyback and final dividend for FY25, along with its March quarter results. The IT firm reported a drop in consolidated net profit at Rs 129.89 crore for the March quarter compared with Rs 132.35 crore for the same quarter last year. Net sales for the quarter rose to 766.53 crore compared from Rs 693.10 crore YoY.
eClerx Services share buyback The IT firm said its board has approved the proposal of buy back of not exceeding 13,75,000 fully paid-up equity shares of face value Rs 10 each for an amount not exceeding Rs 385 crore, excluding any expenses incurred or to be incurred for the buy back namely brokerage costs, fees, turnover charges, taxes such as securities transaction tax and goods and services tax (if any), tax on distributed income on buy back.
The buyback offer is 24.98 per cent and 18.38 per cent of the aggregate of the total paid-up equity share capital and free reserves of eClerx based on the latest standalone and consolidated audited financial statements, as at March 31, 2024.
The buyback back price is set at R 2,800. The record date will be decided by the company board . The buyback will be done via tender offer route, on a proportionate basis, as prescribed under the Sebi (Buy-Back of Securities) Regulations. A total of 15 per cent of the proposed buyback shares will be reserved for small shareholders.
eClerx Services final dividend EClerx Services said its board recommended a final dividend of Re 1 per equity share of Rs 10each for the financial year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company.
"The company shall inform the Stock Exchange(s) in due course about the date of AGM for financial year ended March 31, 2024, dates of book closure for purpose of entitlement of final dividend and date from which the final dividend will be paid, once approved by shareholders, "it said.
Shares of eClerx Services Ltd will be in focus on Friday morning after the Mumbai-based IT firm announced share buyback and final dividend for FY25, along with its March quarter results. The IT firm reported a drop in consolidated net profit at Rs 129.89 crore for the March quarter compared with Rs 132.35 crore for the same quarter last year. Net sales for the quarter rose to 766.53 crore compared from Rs 693.10 crore YoY.
eClerx Services share buyback The IT firm said its board has approved the proposal of buy back of not exceeding 13,75,000 fully paid-up equity shares of face value Rs 10 each for an amount not exceeding Rs 385 crore, excluding any expenses incurred or to be incurred for the buy back namely brokerage costs, fees, turnover charges, taxes such as securities transaction tax and goods and services tax (if any), tax on distributed income on buy back.
The buyback offer is 24.98 per cent and 18.38 per cent of the aggregate of the total paid-up equity share capital and free reserves of eClerx based on the latest standalone and consolidated audited financial statements, as at March 31, 2024.
The buyback back price is set at R 2,800. The record date will be decided by the company board . The buyback will be done via tender offer route, on a proportionate basis, as prescribed under the Sebi (Buy-Back of Securities) Regulations. A total of 15 per cent of the proposed buyback shares will be reserved for small shareholders.
eClerx Services final dividend EClerx Services said its board recommended a final dividend of Re 1 per equity share of Rs 10each for the financial year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company.
"The company shall inform the Stock Exchange(s) in due course about the date of AGM for financial year ended March 31, 2024, dates of book closure for purpose of entitlement of final dividend and date from which the final dividend will be paid, once approved by shareholders, "it said.