Current Price: ~300 | Dividend Yield: ~7% 💰 Dividend Announcement The Board has recommended a final cash dividend of Rs. 11.00 per share. Combined with the interim dividend of Rs. 10.00 per share already paid, the total dividend for FY2026 stands at Rs. 21.00 per share. No bonus shares or right shares were announced. Important context: This is lower than FY2025's total dividend of Rs. 35.00 per share (Rs. 15 final + Rs. 20 interim), despite higher earnings. Dividend-focused investors should take note. 📊 Financial Performance – A Strong Operational Recovery Millat Tractors has delivered a strong FY2026 recovery with substantial growth in sales, gross profit, operating profit, and net earnings. The most encouraging feature is the sharp improvement in operating cash generation and reduction in short-term borrowings. Revenue: Consolidated revenue increased 20.4% to Rs. 64.24 billion from Rs. 53.35 billion – a substantial recovery in business activity. Profitability: Gross profit surged 46.7% to Rs. 21.14 billion from Rs. 14.41 billion. Gross margin improved significantly from approximately 27% to 32.9% – a major improvement. Operating profit jumped 56.6% to Rs. 16.16 billion from Rs. 10.32 billion. Operating margin expanded from 19.3% to 25.2% – showing the benefit flowed strongly into operating earnings. Profit before tax surged 81% to Rs. 14.68 billion from Rs. 8.10 billion. Profit after tax increased 27.6% to Rs. 8.07 billion from Rs. 6.32 billion. Earnings Per Share: EPS improved 27.6% to Rs. 20.23 from Rs. 15.85. 💰 Cash Flow – The Standout Feature This is the strongest part of the result. Operating cash flow jumped 239% to Rs. 11.50 billion from Rs. 3.39 billion. Cash generated from operations increased from Rs. 10.48 billion to Rs. 19.48 billion – a significant improvement in the underlying cash-generating capability of the business. Short-term borrowings declined 24.4% to Rs. 10.67 billion from Rs. 14.12 billion. Equity increased 17.3% to Rs. 10.88 billion. 🟡 The Liquidity Caveat

I would appreciate your professional guidance regarding fundamentally strong, dividend-paying companies suitable for long-term investment. I am particularly interested in companies with a strong financial position, consistent profitability, sustainable cash flows, and a proven history of paying regular and preferably growing dividends. My objective is to build a portfolio where the primary focus is on reliable dividend income, while short-term fluctuations in share prices have relatively less impact on the overall investment strategy. Could you please guide me on the key fundamental factors I should consider when identifying such companies, and, if possible, recommend some good dividend-paying stocks that meet these criteria? Your expert advice would be highly appreciated.

DFSM — Monthly Chart Behaviour Long-term structure shows a breakout → retest → expansion sequence. Price has now retraced sharply toward the 0.786 Fibonacci level, with the 0.886 zone acting as the deeper support area. Based on the historical time-cycle symmetry, consolidation is expected rather than another immediate vertical expansion. The key is how price behaves around the 0.786–0.886 retracement zone. A strong hold/reversal here would keep the broader bullish structure intact.

This anaylsis was on 19-07- 2026. Key points of Bull run 2009-17: 🟢Last Bull run was complete in 8 years(2009-17) 🟢1st four years(2009-13) RSI was under 70 🟢Next 2 years(2013-15) RSI was Overboght extreme GREED. 🔴On 1 Jan 2015 after six years market drop below RSI 70. 🟢And with in Two years Bull Cycle completed. Now We'll discuss this bull run: 🟢This Bull run (2020-....) 🟢1st four years(2020-24) RSI was under 70✅ 🟢Next 2 years(2024-26) RSI was Overbought extreme GREED.✅ 🔴On 1 Jan 2026 after six years market drop below RSI 70.✅ 🟢And with in Two years Bull Cycle completed.If market behavious the same way then projection are 230k-250k may be more!

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