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Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company’s sales declined by -65.4 % over the year, decrease in net sales/revenue by -20.58 %.
- Income over the Year and quarter: There has been either a marginal increase or a decline in other income over the past year which is 486.86 %. Marginal increase in other income during this quarter, up by 3212.9%.
- Profit over the Year and quarter: Challenges in sustaining profitability for Ginni Filaments Limited. Profit dropped by -100.29 % Year to Year, Ginni Filaments Limited’s profitability dropped by -100.05 % Quarter to Quarter.
- EPS over the Year and quarter: EPS decreased by -100 % in previous quarter. Analysis needed for shareholder value.
Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
---|---|---|---|---|---|
Sales | Rs. 224.557 Cr | Rs. 97.818 Cr | Rs. 77.691 Cr | -20.58 % | -65.4 % |
Expenses | Rs. 223.44 Cr | Rs. 92.44 Cr | Rs. 75.18 Cr | -18.67 % | -66.35 % |
Operating Profit | Rs. 1.12 Cr | Rs. 5.38 Cr | Rs. 2.51 Cr | -53.35 % | + 124.11 % |
OPM % | 0.5 % | 5.5 % | 3.23 % | -2.27 % | + 2.73 % |
Other Income | Rs. 0.525 Cr | Rs. 0.093 Cr | Rs. 3.081 Cr | + 3212.9 % | + 486.86 % |
Interest | Rs. 7.56 Cr | Rs. 2.98 Cr | Rs. 2.35 Cr | -21.14 % | -68.92 % |
Depreciation | Rs. 7.34 Cr | Rs. 3.55 Cr | Rs. 3.92 Cr | + 10.42 % | -46.59 % |
Profit before tax | Rs. -13.26 Cr | Rs. -1.06 Cr | Rs. -0.68 Cr | + 35.85 % | + 94.87 % |
Tax % | -33.38 % | -11.25 % | -103.69 % | -92.44 % | -70.31 % |
Net Profit | Rs. -8.83 Cr | Rs. -50.82 Cr | Rs. 0.03 Cr | + 100.06 % | + 100.34 % |
EPS in Rs | Rs. -1.03 | Rs. -5.93 | Rs. 0 | 0 % | 0 % |
Today, we’re looking at Ginni Filaments Limited’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a significant year-over-year sales decline of -65.4 %. However, it did see a marginal slip of -20.58 % from the previous quarter. Expenses decreased slightly by -18.67 % quarter-on-quarter, aligning with the annual decline of -66.35 %. Operating profit, while up 124.11 % compared to last year, faced a quarter-on-quarter dip of -53.35 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % echoes this narrative, showing resilience on an annual basis with an increase of 2.73 %, but a shrinkage of -2.27 % sequentially. Other income rose by 3212.9 % compared to the last quarter, despite an annual growth of 486.86 %. Interest expenses dropped significantly by -21.14 % from the previous quarter, yet the year-over-year decrease remains at a moderate -68.92 %. Depreciation costs climbed by 10.42 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -46.59 %. Profit before tax grew annually by 94.87 % but saw an increase from the preceding quarter by 35.85 %.
Tax expenses as a percentage of profits decreased slightly by -70.31 % compared to last year, with a more notable quarter-on-quarter decrease of -92.44 %. Net profit rose by 100.34 % year-on-year but experienced a 100.06 % expansion from the last quarter. In summary, Ginni Filaments Limited’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
---|---|---|---|---|---|
Sales | Rs. 224.557 Cr | Rs. 97.818 Cr | Rs. 77.691 Cr | -20.58 % | -65.4 % |
Expenses | Rs. 223.44 Cr | Rs. 92.44 Cr | Rs. 75.18 Cr | -18.67 % | -66.35 % |
Operating Profit | Rs. 1.12 Cr | Rs. 5.38 Cr | Rs. 2.51 Cr | -53.35 % | + 124.11 % |
Net Profit | Rs. -8.83 Cr | Rs. -50.82 Cr | Rs. 0.03 Cr | + 100.06 % | + 100.34 % |
EPS in Rs | Rs. -1.03 | Rs. -5.93 | Rs. 0 | 0 % | 0 % |
In reviewing Ginni Filaments Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -65.4 % year-on-year, although there was a slight dip of -20.58 % from the previous quarter. Expenses decreased by -66.35 % compared to the previous year, with a decrease of -18.67 % quarter-on-quarter. Operating Profit surged by 124.11 % annually, and saw a -53.35 % decrease from the last quarter.
Net Profit showed yearly increase of 100.34 %, and experienced a 100.06 % increase from the previous quarter. In essence, while Ginni Filaments Limited exhibits strong annual growth indicators, short-term improvements suggest the potential for recovery and the importance of strategic adjustments to counter market challenges effectively. That’s all for now in the financial sector.