Declared Dividend of Rs 3.5 per share: NBFC reports a 55.5% YoY increase in PAT, with shares up 87% in a year
360 ONE WAM Ltd., a mid-cap firm in the NBFC sector, had its share price fall by more than 1% in today’s trading to conclude at Rs 762.25 on the BSE, even after the company revealed strong financial results and an interim dividend. The 360 ONE WAM Board of Directors announced a 3.5/share dividend today, and the company’s profit after tax (PAT) increased to Rs 241 crore, a 55.5% YoY increase. In the last year, the 360 ONE WAM share has provided an appealing 87% return. Additional information is provided below:
First Interim Dividend Announced by 360 ONE WAM Ltd: The first interim dividend for the financial year 2024–2025 of Rs. 3.5/‥ (Rupees three and paise fifty only) per equity share of face value of Re. 1/‑ (Rupee one only) each has been set, and the record date for this purpose is Thursday, May 2, 2024, according to the BSE filing of 360 One dated April 23, 2024. Subject to relevant taxes, the aforementioned interim dividend will be paid or dispatched on Wednesday, May 22, 2024, at the latest.
360 One Wam Financials: The business reported a profit after tax (PAT) of Rs 241 crore for the fourth quarter of FY2024, increasing 24.3% for the quarter and 55.5% for the year. The firm reported a 20% YoY increase in PAT for FY24 at Rs 802 crore.
Declared total sales for FY24 were Rs 1965 crore, representing a 25.3% YoY increase. In the meantime, Q4 FY24 total sales of Rs 623 crore were reported, rising 33.6% QoQ and 61.8% YoY.
As of March 2024, total assets under management (AUM) were at Rs 4,66,909 crore. The business reported an annual recurring revenue (ARR) AUM of Rs 2,27,879 crore, an increase of 3.2% QoQ and 36.3% YoY.
360 ONE WAM Share Performance: On April 18, 2024, the share price of 360 ONE WAM on the BSE reached a 52-week high of Rs 901.10, and on May 16, 2023, it fell to Rs 397.95. The market capitalization of the NBFC is Rs 27,354.30 crore. In the previous three months, 360 ONE WAM shares surged 24%, in the last six months, they surged over 43%, and in the last year, they gained 87%. 360 One Wam shares increased 72% in the previous two years and 179% in the most recent three.
History of 360 ONE WAM Dividends: Since October 31, 2019, 360 One Wam has declared 14 dividends. 360 One Wam paid an equity dividend of Rs 16.50 per share over the previous year. A 2.06% dividend yield is provided by 360 One Wam at the present share price of Rs 799.5000.
History of the 360 One Wam Stock Divide: Since March 2, 2023, 360 One Wam has divided the face value once. In 2023, 360 One Wam last divided the face value of its shares into Rs. 2 and Rs. 1.Ex-split shares began trading on March 2, 2023.
Analysts Suggest Purchasing: Brokerage The 360 One Wam share has been covered by Jefferies India, which has also raised the target price to Rs 900 per share. “We think Indian Wealth Managers (IWMs) are in a good position to benefit from the financialization of savings and economic expansion, particularly in the capital markets. Strong inflows and operational efficiency would help leading businesses generate a 20–22% profit CAGR during FY24–27, according to Jefferies India.
Motilal Oswal has also suggested a buy call with a target price of Rs 850 per share in the interim.
