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Real Estate Stocks Declare Dividend, LIC Held 2.85% Stake in Q4: Do You Own?


Swan Energy is a mid-cap real estate company with a market capitalization of 6,064.81 Cr during Friday’s closing session. The Swan Group is one of India’s largest private sector business companies, serving the country in textiles, real estate, and oil and gas for over a century. The company has announced its results for Q4 and FY23, as well as a dividend to its eligible shareholders.

“The Board of Directors at its meeting held today has recommended, subject to shareholder approval at the subsequent Annual General Meeting, the payment of dividend @ 10% on Rs shareholding. 1/- each, (Rs. 0.10 per share) for FY 2022-23,” Swan Energy said in a scholarship application.

During Q4FY23, the company recorded a consolidated revenue from operations of Rs 933.19 Cr, an increase of 198.81% year on year over 312.30 Cr in Q4FY22. The company’s net income was 937.43 Cr during the quarter ending March 2023 compared to 312.13 Cr in the quarter ending March 2022.

The net costs were 783.76 Cr during Q4FY23 up 117.08% from 361.03 Cr during Q4FY22. The company said it reached its net profit 2.62 Cr during the quarter under review compared to a net loss of 19.13 Cr in the same quarter a year ago. The Swan Energy EPs zoomed in 2.25 onwards (-1.69).

During the financial year ending in March 2023, revenue from operations reached Rs 1438.14 Cr as compared to 487.19 Cr in the financial year ending in March 2022. During MFY23, the net result was 1448.91 Cr compared to 494.09 Cr in 12MFY22. Swan Energy said it reported a net loss of Rs 38.83 Cr in 12MFY23 versus a net loss of 87.42 Cr in 12MFY22.

Shares of Swan Energy closed on the BSE on Friday 229.80 each, an increase of 1.55% over the previous close’s 226.30. The stock reached a 52-week high from 379.00 on (23/01/2023) and a 52-week low of 180.30 on (08/07/2022). During Q4FY23, the company recorded a promoter shareholding of 64.09%, a FIIs interest of 17.13%, a DIIs interest of 2.92%, and a public interest of 15.85^. According to Swan Energy’s shareholder pattern for the January to March 2023 quarter, insurance giant LIC held 75,10,174 shares or a 2.85% stake in the company.

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Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.