Company announced buyback of around 2% share @ 240/share from open market.
Good sign from promoter to have faith in the company. And may be the best used of tax efficient money distribution. I was hoping a better dividend instead, but this will do enough to support stock prices for next few months.
Even though the one oil (RMO) has boiled down, the other oil (LLP) is still high.
From latest investor presentation,
https://www.bseindia.com/xml-data/corpfiling/AttachHis/40d80191-216f-49cb-8ae3-d56f753ebdce.pdf
But there are few positives.
1. Reduction in consumption of glass bottles by 8%. (above 16% done last year)
2. Reduction in consumption by 6%. (above 14% done last year)
3. Reduced 30% of water consumption compare to H1
Company announced buyback of around 2% share @ 240/share from open market.
Good sign from promoter to have faith in the company. And may be the best used of tax efficient money distribution. I was hoping a better dividend instead, but this will do enough to support stock prices for next few months.
Source : https://www.bseindia.com/xml-data/corpfiling/AttachLive/b5e1aa63-7d62-41c7-8386-704ab6582a0b.pdf
Consolidated sales increased by 9.5% YoY, and 14% QoQ.
Total market share remains flat at 10.4%
Urban demand has improved now positive, rural demand has slight improvement but still negative.
Prices of RMO and LLP has reduced significantly and consequently the margin has improved to 17.9%
Dividend announced Rs. 5/- per share.
Performance of expected lines, the price was supported by buyback since last Q, hopefully this Q performance will support it further.
Source : https://www.bseindia.com/xml-data/corpfiling/AttachLive/8518dd3c-7421-4b0f-907b-29f19d36ee37.pdf