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“The Board of Directors at its meeting held today has also recommended final dividend of Rs. 100 /- (Rupees One Hundred Only) per Equity Share, i.e. at the rate of 1000% of the face value of Rs. 10/- each for the Financial Year ended on March 31, 2024, subject to approval of shareholders at the ensuing Annual General Meeting of the Company,” stated the company filing.
The company has reported a net profit of Rs 148.2 crore for the quarter ended March 2024, up by 32% YoY from Rs 112 crore reported for the same period a year ago.
Its revenue from operations stood at Rs 950.7 crore, up from Rs 849.7 crore in Q4FY23.
The company has also updated the exchanges about the resignation of the Managing Director Ashish Gaikwad as he will now act as the India Leader for Industrial Automation (IA) business — one of Honeywell International’s strategic business groups.
“I wish to inform you that I have been entrusted with a new and broader responsibility at Honeywell, as the India Leader for Industrial Automation (IA) business — one of Honeywell International Inc's strategic business groups. I humbly accept the new responsibility. Therefore, I hereby tender my resignation from the office of Managing Director of Honeywell Automation India Limited effective close of business hours of May 15, 2024,” said Gaikwad in his resignation letter.
Atul Vinayak Pai has been appointed as the new Managing Director and Key Managerial Personnel for a tenure of 5 years in the company.
The shares of Honeywell Automation closed nearly 3% higher on the BSE at Rs 49,214.45 on Wednesday.
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