Emami on Thursday (19 March 2020) said its board approved a Rs 194.08 crore share buyback offer at a maximum price of Rs 300 per share.
The indicative maximum number of equity shares proposed to be bought back at the maximum buyback size and maximum buyback price would be 64.69 lakh shares, representing 1.43% of the existing paid up equity capital.
Further, the board also declared payment of second interim dividend of Rs 2 per equity share for the FY 2019-2020. The record date is set on 27 March 2020.
Emami's consolidated net profit rose 1.2% to Rs 146.99 crore on a 0.2% rise in net sales to Rs 812.64 crore in Q3 December 2019 over Q3 December 2018.
Emami is engaged in providing ayurvedic medicinal products and cosmetic and toiletries. It operates in the personal and healthcare segment. Its brands include BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Mentho Plus Balm, Fast Relief and Kesh King.
Shares of Emami were down 4.63% to Rs 180.10 on BSE. The stock traded in the range of Rs 178.15 to Rs 207.05 so far.
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