Reported Earnings • May 14
Full year 2026 earnings released: EPS: ₹29.31 (vs ₹29.37 in FY 2025) Full year 2026 results: EPS: ₹29.31 (down from ₹29.37 in FY 2025). Revenue: ₹15.8b (up 14% from FY 2025). Net income: ₹1.04b (flat on FY 2025). Profit margin: 6.6% (down from 7.5% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 13
Dividend increased to ₹20.00 Dividend of ₹20.00 is 33% higher than last year. Ex-date: 10th July 2026 Payment date: 9th September 2026 Dividend yield will be 5.5%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 41% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 12
Now 22% undervalued Over the last 90 days, the stock has risen 13% to ₹464. The fair value is estimated to be ₹592, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 8.5%. Tillkännagivande • May 11
D-Link (India) Limited, Annual General Meeting, Aug 10, 2026 D-Link (India) Limited, Annual General Meeting, Aug 10, 2026. Tillkännagivande • Apr 07
D-Link (India) Limited to Report Q4, 2026 Results on May 09, 2026 D-Link (India) Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 09, 2026 Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: ₹7.52 (vs ₹7.47 in 3Q 2025) Third quarter 2026 results: EPS: ₹7.52 (up from ₹7.47 in 3Q 2025). Revenue: ₹3.99b (up 20% from 3Q 2025). Net income: ₹266.9m (flat on 3Q 2025). Profit margin: 6.7% (down from 8.0% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jan 06
D-Link (India) Limited to Report Q3, 2026 Results on Feb 05, 2026 D-Link (India) Limited announced that they will report Q3, 2026 results on Feb 05, 2026 Declared Dividend • Nov 07
First half dividend increased to ₹6.00 Dividend of ₹6.00 is 20% higher than last year. Ex-date: 14th November 2025 Payment date: 5th December 2025 Dividend yield will be 4.8%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 40% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Sep 30
D-Link (India) Limited to Report Q2, 2026 Results on Nov 05, 2025 D-Link (India) Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Nov 05, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹6.87 (vs ₹6.65 in 1Q 2025) First quarter 2026 results: EPS: ₹6.87 (up from ₹6.65 in 1Q 2025). Revenue: ₹3.56b (up 2.8% from 1Q 2025). Net income: ₹243.8m (up 3.2% from 1Q 2025). Profit margin: 6.9% (up from 6.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 09
Full year 2025 earnings released: EPS: ₹29.37 (vs ₹26.09 in FY 2024) Full year 2025 results: EPS: ₹29.37 (up from ₹26.09 in FY 2024). Revenue: ₹13.8b (up 12% from FY 2024). Net income: ₹1.04b (up 13% from FY 2024). Profit margin: 7.5% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 04
Upcoming dividend of ₹15.00 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 07 September 2025. Payout ratio is a comfortable 68% and the cash payout ratio is 79%. Trailing yield: 3.5%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Chin-Ho Kuo was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jun 30
D-Link (India) Limited to Report Q1, 2026 Results on Aug 07, 2025 D-Link (India) Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Board Change • May 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Chin-Ho Kuo was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 07
Final dividend of ₹15.00 announced Shareholders will receive a dividend of ₹15.00. Ex-date: 11th July 2025 Payment date: 7th September 2025 Dividend yield will be 4.2%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 42% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 04
Full year 2025 earnings released: EPS: ₹29.37 (vs ₹26.09 in FY 2024) Full year 2025 results: EPS: ₹29.37 (up from ₹26.09 in FY 2024). Revenue: ₹14.0b (up 14% from FY 2024). Net income: ₹1.04b (up 13% from FY 2024). Profit margin: 7.4% (down from 7.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹7.47 (vs ₹6.46 in 3Q 2024) Third quarter 2025 results: EPS: ₹7.47 (up from ₹6.46 in 3Q 2024). Revenue: ₹3.35b (up 14% from 3Q 2024). Net income: ₹265.0m (up 16% from 3Q 2024). Profit margin: 7.9% (up from 7.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Dec 30
D-Link (India) Limited to Report Q4, 2024 Results on Jan 07, 2025 D-Link (India) Limited announced that they will report Q4, 2024 results at 12:08 PM, Indian Standard Time on Jan 07, 2025 Upcoming Dividend • Nov 05
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 12 November 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.6%). Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹7.53 (vs ₹6.66 in 2Q 2024) Second quarter 2025 results: EPS: ₹7.53 (up from ₹6.66 in 2Q 2024). Revenue: ₹3.41b (up 11% from 2Q 2024). Net income: ₹267.2m (up 13% from 2Q 2024). Profit margin: 7.8% (up from 7.7% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to ₹561. The fair value is estimated to be ₹708, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 34%. Recent Insider Transactions • Sep 19
Non-Executive Director recently sold ₹36m worth of stock On the 12th of September, Mukesh Lulla sold around 51k shares on-market at roughly ₹709 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹164m more than they bought in the last 12 months. Buy Or Sell Opportunity • Aug 13
Now 25% undervalued Over the last 90 days, the stock has risen 19% to ₹521. The fair value is estimated to be ₹698, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 34%. Reported Earnings • Jul 11
Full year 2024 earnings released: EPS: ₹26.09 (vs ₹24.32 in FY 2023) Full year 2024 results: EPS: ₹26.09 (up from ₹24.32 in FY 2023). Revenue: ₹12.4b (up 4.7% from FY 2023). Net income: ₹926.3m (up 7.3% from FY 2023). Profit margin: 7.5% (up from 7.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 08
D-Link (India) Limited to Report Q1, 2025 Results on Aug 06, 2024 D-Link (India) Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of ₹13.00 per share Eligible shareholders must have bought the stock before 12 July 2024. Payment date: 06 September 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹560, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 46x in the Electronic industry in India. Total returns to shareholders of 329% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹470, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 49x in the Electronic industry in India. Total returns to shareholders of 306% over the past three years. Recent Insider Transactions • Jun 06
Non-Executive Director recently sold ₹3.7m worth of stock On the 31st of May, Mukesh Lulla sold around 9k shares on-market at roughly ₹425 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹5.7m more than they bought in the last 12 months. New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Recent Insider Transactions • May 27
Non-Executive Director recently sold ₹650k worth of stock On the 23rd of May, Mukesh Lulla sold around 1k shares on-market at roughly ₹440 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹1.3m. Insiders have been net sellers, collectively disposing of ₹2.0m more than they bought in the last 12 months. Recent Insider Transactions • May 19
Non-Executive Director recently sold ₹1.3m worth of stock On the 16th of May, Mukesh Lulla sold around 3k shares on-market at roughly ₹440 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹421, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 55x in the Electronic industry in India. Total returns to shareholders of 311% over the past three years. Tillkännagivande • May 13
D-Link (India) Limited, Annual General Meeting, Aug 07, 2024 D-Link (India) Limited, Annual General Meeting, Aug 07, 2024. Agenda: To consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31,2024; to consider and adopt the Audited Consolidated Financial Statements for the financial year ended March 31,2024; to declare dividend on equity shares for the Financial Year ended March 31,2024; to consider revision in Payment of remuneration to MD& CEO; an to consider such other matters. Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹26.09 (vs ₹24.32 in FY 2023) Full year 2024 results: EPS: ₹26.09 (up from ₹24.32 in FY 2023). Revenue: ₹12.5b (up 5.9% from FY 2023). Net income: ₹926.3m (up 7.3% from FY 2023). Profit margin: 7.4% (up from 7.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 30
D-Link (India) Limited to Report Q4, 2024 Results on May 11, 2024 D-Link (India) Limited announced that they will report Q4, 2024 results on May 11, 2024 Buy Or Sell Opportunity • Mar 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to ₹272. The fair value is estimated to be ₹344, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 41%. Buy Or Sell Opportunity • Mar 13
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to ₹258. The fair value is estimated to be ₹347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 41%. Reported Earnings • Feb 05
Third quarter 2024 earnings released: EPS: ₹6.46 (vs ₹7.68 in 3Q 2023) Third quarter 2024 results: EPS: ₹6.46 (down from ₹7.68 in 3Q 2023). Revenue: ₹2.94b (up 5.0% from 3Q 2023). Net income: ₹229.5m (down 16% from 3Q 2023). Profit margin: 7.8% (down from 9.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 42% per year. Tillkännagivande • Jan 09
D-Link (India) Limited to Report Q3, 2024 Results on Feb 03, 2024 D-Link (India) Limited announced that they will report Q3, 2024 results at 12:08 PM, Indian Standard Time on Feb 03, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: ₹6.66 (vs ₹6.39 in 2Q 2023) Second quarter 2024 results: EPS: ₹6.66 (up from ₹6.39 in 2Q 2023). Revenue: ₹3.11b (up 6.0% from 2Q 2023). Net income: ₹236.2m (up 4.1% from 2Q 2023). Profit margin: 7.6% (down from 7.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 45% per year. Tillkännagivande • Oct 10
D-Link (India) Limited to Report Q2, 2024 Results on Oct 28, 2023 D-Link (India) Limited announced that they will report Q2, 2024 results at 12:08 PM, Indian Standard Time on Oct 28, 2023 Upcoming Dividend • Aug 11
Upcoming dividend of ₹10.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 18 August 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 21% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.9%). Tillkännagivande • Jul 31
D-Link (India) Limited, Annual General Meeting, Sep 09, 2023 D-Link (India) Limited, Annual General Meeting, Sep 09, 2023, at 11:00 Indian Standard Time. Location: goa Goa India Agenda: To consider the Approval of financial statements; to approve the Declaration of Dividend; to approve the Re-election of One Director; to consider the Re-appointment of Statutory Auditors; To re-appoint Mr. Tushar Sighat as Managing Director & CEO; to consider the Approval of Material Related Party Transactions with D-Link Corporation; and to consider other matters if any. Reported Earnings • Jul 30
First quarter 2024 earnings released: EPS: ₹5.90 (vs ₹4.56 in 1Q 2023) First quarter 2024 results: EPS: ₹5.90 (up from ₹4.56 in 1Q 2023). Revenue: ₹3.00b (up 1.4% from 1Q 2023). Net income: ₹209.6m (up 30% from 1Q 2023). Profit margin: 7.0% (up from 5.5% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹315, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 45x in the Electronic industry in India. Total returns to shareholders of 260% over the past three years. Tillkännagivande • Jul 14
D-Link (India) Limited to Report Q1, 2024 Results on Jul 29, 2023 D-Link (India) Limited announced that they will report Q1, 2024 results at 4:00 PM, Indian Standard Time on Jul 29, 2023 Tillkännagivande • Jul 12
D-Link (India) Limited Announces Board Changes Board of Directors of D-Link (India) Limited has given its consent to the appointment proposals to the Board, subject to necessary statutory and regulatory approvals. Mr. Chia-Jui, Chang as Non-Executives Director: Presently Mr. Chang is the CEO of D-Link Corporation, Taiwan. He is responsible for making major corporate decisions, setting the company's strategic direction, and managing all operations. Mr. Chang has over 30 years of hardware and software-related experience in marketing sales, customer relations, consumer-packaged goods, and establishing and managing business in IP networking and Cloud services. Mr. Chang holds a Bachelor of Laws in Economy and Finance from Fu-Jen University in Taipei (1983) and a Master of Business Administration from Senshu University in Tokyo, Japan (1989). Ms. Pei-Hsiao, Chou as Non-Executives Director: Presently Ms. Chou is the Director of Accounts at D-Link Corporation in Taiwan. She is responsible for overseeing the company's accounting operations. Prior to this, she worked as an auditor at KPMG Taiwan and at a multinational company, Henkel Taiwan. Ms. Claire Chou graduated from the Department of Accounting at National Taiwan University and has more than 20 years of experience in the relevant area.) Ms. Ching- Chun, Yang as Independent Director: Ms. Yang is a University of Southern California graduate and secured her Certified Public Accountant accreditation in 2009. Presently serve as Vice-President of Financial and Regulatory Reporting at City National Bank, Los Angeles, CA. Previously, she distinguished herself in leadership roles at CIT Group, One West Bank and Toyota Ms. Hsueh-Ying Yeh as Independent Director Ms. Yeh graduated from Master of Business Administration from The University of Mississippi, USA, and has more than 25 years of experience in Business Administration, M&A structuring & Negotiation, Cross Border experiences & in-depth corporate finance exposures etc. Presently associated with Kings Asset Management Co. Ltd. as Chief Strategy Officer. Besides, she also served as a Director in ANZ Banking Group. She also served as Executive Vice President of O-BANK Co., Ltd, to lead and motivate various business teams. Reported Earnings • May 09
Full year 2023 earnings released: EPS: ₹24.32 (vs ₹11.91 in FY 2022) Full year 2023 results: EPS: ₹24.32 (up from ₹11.91 in FY 2022). Revenue: ₹11.9b (up 29% from FY 2022). Net income: ₹863.6m (up 104% from FY 2022). Profit margin: 7.3% (up from 4.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹245, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 26x in the Electronic industry in India. Total returns to shareholders of 322% over the past three years. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹254, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 29x in the Electronic industry in India. Total returns to shareholders of 157% over the past three years. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹7.68 (vs ₹2.66 in 3Q 2022) Third quarter 2023 results: EPS: ₹7.68 (up from ₹2.66 in 3Q 2022). Revenue: ₹2.82b (up 18% from 3Q 2022). Net income: ₹272.8m (up 188% from 3Q 2022). Profit margin: 9.7% (up from 4.0% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 24% per year. Tillkännagivande • Jan 12
D-Link (India) Limited to Report Q3, 2023 Results on Feb 04, 2023 D-Link (India) Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Feb 04, 2023 Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹212, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 31x in the Electronic industry in India. Total returns to shareholders of 129% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Chairman Howard Kao was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 31% share price gain to ₹267, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 31x in the Electronic industry in India. Total returns to shareholders of 189% over the past three years. Reported Earnings • Oct 23
Second quarter 2023 earnings released: EPS: ₹6.39 (vs ₹3.55 in 2Q 2022) Second quarter 2023 results: EPS: ₹6.39 (up from ₹3.55 in 2Q 2022). Revenue: ₹2.95b (up 20% from 2Q 2022). Net income: ₹227.0m (up 80% from 2Q 2022). Profit margin: 7.7% (up from 5.1% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 03
Insider recently sold ₹2.8m worth of stock On the 30th of August, Mukesh Lulla sold around 16k shares on-market at roughly ₹180 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹5.4m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 20% share price gain to ₹165, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 25x in the Electronic industry in India. Total returns to shareholders of 96% over the past three years. Upcoming Dividend • Jul 21
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 12 September 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.3%. Within top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (1.3%). Reported Earnings • Jul 17
Full year 2022 earnings released Full year 2022 results: Revenue: ₹9.18b (up 26% from FY 2021). Net income: ₹422.9m (up 35% from FY 2021). Profit margin: 4.6% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • Apr 28
Full year 2022 earnings released: EPS: ₹11.91 (vs ₹8.83 in FY 2021) Full year 2022 results: EPS: ₹11.91 (up from ₹8.83 in FY 2021). Revenue: ₹9.25b (up 27% from FY 2021). Net income: ₹422.9m (up 35% from FY 2021). Profit margin: 4.6% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Non-Executive Chairman Howard Kao was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.