Shares of Geometric advanced as much as 10.69 per cent on Wednesday after the IT firm declared interim dividend for the financial year 2015-16.
Geometric shares were trading 8.66 per cent up at Rs 195.10 (at 2.42 pm). The scrip opened at Rs 180 and has touched a high and low of Rs 198.75 and Rs 180, respectively, in trade so far. Later, the share price of the company ended 11.58 per cent up at Rs 200.35
In a BSE filing, the company on Tuesday said, “The board of directors of the company at its meeting held on March 15, 2016, have considered and declared interim dividend for the financial year 2015-16 at a rate of 150 per cent (i.e. of Rs 3 per equity share) on the face value of Rs 2 per equity share.”
The dividend will be payable on and from March 30, 2016 and such payment shall be completed within the timeline stipulated in the relevant provisions of the Companies Act, 2013.
The company on Wednesday also announced that it is all set to present critical new functionality in CAMWorks to simplify and speed up the CNC programming process in the Tool and Die Industry by using manufacturing data; including tolerances, surface finish, GD&T, thread callouts, etc. in SOLIDWORKS 3D models, at Booth C05, Hall 2 from 6th to 9th April, at DIEMOULD India 2016 in Bengaluru, India.
CAMWorks now has the ability to read dimensional information and will automatically select the correct tools, speeds, and feeds to meet the surface finish requirements called out in the model, set nominal values for asymmetric tolerances and select the appropriate tools, operations, and strategies to generate toolpaths to meet the requirements. This functionality automates the CNC programming process and eliminates the necessity to manually calculate allowances when defining CNC tool paths, or the need to rebuild 3D models to mean geometry, eliminating potential mistakes, while saving time and money, and will streamline the transition from design to manufacturing.
The promoters holding in the company stood at 37.81 per cent while institutions and non-institutions held 6.40 per cent and 55.79 per cent, respectively.
For the quarter ended December 2015, the company reported a consolidated net profit of Rs 28.96 crore, up 76.91 per cent, against Rs 16.37 crore in the same quarter last year. The company reported net profit of Rs 23.02 crore in the sequential quarter ended September 2015.
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.