Iron & Steel/Intermediate Products company Welspun Enterprises announced Q4FY23 results: In addition to Rs 7.5 special dividend per share announced earlier, the board has approved an additional Rs 1 per share dividend to the shareholders. Net Cash of the company as on 31 March 2023 stands at Rs 15,478 million on a standalone basis As of 31 March 2023, our diversified order book stands at ~ Rs 101 billion, which includes Rs 18 billion allocated for O&M; and asset replacement in the MCGM STP project. The order book is categorized as follows: Water & Wastewater management segment constitutes 60% Road projects constitute 40% Received Rs 1,610 million towards milestone linked payment out of Rs 2,595 million as a part of divestment transaction undertaken with Actis in Dec' 2022 CRISIL Rating has accorded long-term rating of AA-/and short term rating of A1+ In the Dharavi STP project, received a mobilization advance of 5% Received PCOD-2 for Mukarba Chowk – Panipat project Speaking about the performance, Sandeep Garg, Managing Director, Welspun Enterprises, said, “In line with our thought process of return on investment to our shareholders, we have by way of dividend and buyback returned Rs 8.50 per share and Rs 2,350 million, respectively, in this financial year. Having announced special dividend of Rs 7.50, the board has further approved a final dividend of Rs 1 per share. The Company has achieved a successful closure of the Actis deal during the year, highlighting the ability to create value not just during contract execution but also through effective monetization strategies, resulting in an impressive equity IRR of 19%. The asset-light execution model allows us to maintain a lean balance sheet, facilitating the efficient conversion of revenues into profits. As a result, we have created growth capital that positions us favorably to fund our next phase of growth, focusing on high-value, high margin assets in the portfolio. The strong results we attained in FY23 serve as a testament to our unwavering commitment to delivering excellence and driving sustainable growth. We remain dedicated to building on these achievements, leveraging our strengths, and seizing new opportunities to further enhance our performance in the future.” Result PDF