Multibagger infra stock turns ex-dividend today; trading in green for three sessions

Shares of IRB Infrastructure Developers Ltd are trading ex-dividend today with an interim dividend of Rs 0.075 per share. IRB Infrastructure stock was trading flat in early trade. The stock gained 0.25% to Rs 27.62 against the previous close of Rs 27.55 on BSE. The stock  has been gaining for last three days.  

The stock opened higher at Rs 27.61 on BSE today. IRB Infrastructure stock has climbed 20.12% in one year and fallen 5.23% since the beginning of this year.  However, the stock has zoomed 353% in the last three years, delivering multibagger returns for shareholders. Total 1.47 lakh shares of the firm changed hands amounting to a turnover of Rs 42.19 crore on BSE. Market cap of the firm stood at Rs 16,673 crore on BSE.    

In terms of technicals, the relative strength index (RSI) of the stock stands at 49, signaling it's trading neither in the overbought nor in the oversold zone. IRB Infrastructure shares have a beta of 1.4, indicating very high volatility in a year. IRB Infrastructure shares are trading higher than the 5 day, 50 day and 200 day moving averages but lower than 20 day and 100 day moving averages.  

The Mumbai-based firm announced an interim dividend of Rs 0.075 per equity share of face value of Rs 1 each for the financial year 2022-23.  The firm engaged in the development of highways infrastructure fixed May 29, 2023 as the record date for the purpose of payment of dividend.   

The firm reported a 13% rise in revenue to Rs 1617 crore in the March 2023 quarter against Rs 1433 crore  in the March 2022 quarter. However, net profit slipped 25.42% to Rs 130.15 crore in Q4 against Rs 174.50 crore in the March 2022 quarter.  EBITDA rose 18.26 to Rs 758.73 crore in Q4 against Rs 641.59 crore in the March quarter of 2022.    

On an annual basis, net profit zoomed 99% to Rs 720 crore for the fiscal ended March 2023 against Rs 361.40 crore for the fiscal ended March 2022. For the fiscal ended 2021, net profit stood at Rs 117.15 crore.     

Revenue climbed 10.30% to Rs 6401 crore in the March 2023 fiscal against Rs 5803 crore for the fiscal ended March 2022. For the fiscal ended 2021, sales stood at Rs 5298.63 crore.    

IRB Infrastructure Developers is an infrastructure development company. The company is engaged in constructing roadways and highways. It is involved in engineering, procurement and construction (EPC), and operation and maintenance across all its businesses.