Vesuvius India Board Approves Interim Dividend and First-Ever Stock Split

Vesuvius India Ltd has approved a stock split, the first in the company’s history. The board has decided to split each equity share with a face value of ₹10 into ten shares of ₹1 each. This is aimed at improving liquidity and making the stock more accessible to retail investors. The record date for the split will be announced after shareholder approval at the Annual General Meeting (AGM).

Dividend Recommendation

The company’s board has also recommended a dividend of ₹14.50 per share for the financial year ending December 31, 2024. The record date for the dividend has been set for May 1, 2025, and the payout will take place after shareholder approval at the AGM on May 8, 2025.

Stock Performance

Vesuvius India Ltd. surged 3.41% to ₹4,180, gaining ₹137.65 as of February 27, 11:52 AM. The stock has seen fluctuations over the past year. It is currently down 48% from its May 2024 high of ₹6,000 but has rebounded 34% from its 52-week low of ₹3,016.95.

Over the past year, the stock has gained 20% but declined 5.6% in February, following losses of 5.75% in January and 15.4% in December.

Company Overview

Vesuvius India Ltd manufactures refractory products used in steel production. It is a subsidiary of Vesuvius Group Limited, UK and has been operating in India since 1991. The company produces monoblock stoppers, ladle shrouds, tundish nozzles, and other industrial materials.

The board meeting, held on February 26, 2025, also approved the audited financial results for the year ending December 31, 2024. The company has been consistent in issuing dividends but has never offered a bonus issue.

Financial Performance

For the quarter ending December 2024, Vesuvius India reported:

• Revenue: ₹507.5 crore, up 23% from ₹413.5 crore in the same quarter last year.
• Net Profit: ₹68.46 crore, a 13.57% increase from ₹60.28 crore a year ago.
• EBITDA Growth: 5% year-on-year.
• EBITDA Margin: Declined by 300 basis points to 15.9% due to higher input costs.

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