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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 experienced a substantial growth of 8.4 % in the past year, decrease in net sales/revenue by -14.12 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -63.67 %, Marginal decrease of -89.83% in other income during this quarter.
- Profit over the Year and quarter: Significant improvement in profitability for Harish Textile Engineers Limited. Notable increase of 162.5 % in net profit Year to Year, Harish Textile Engineers Limited’s profitability dropped by -112.17 % Quarter to Quarter.
- EPS over the Year and quarter: EPS increased by 166.67 % Year to Year. EPS decreased by -112.36 % 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. 28.377 Cr | Rs. 35.821 Cr | Rs. 30.762 Cr | -14.12 % | + 8.4 % |
| Expenses | Rs. 26.89 Cr | Rs. 36.22 Cr | Rs. 29.58 Cr | -18.33 % | + 10 % |
| Operating Profit | Rs. 1.49 Cr | Rs. -0.4 Cr | Rs. 1.18 Cr | + 395 % | -20.81 % |
| OPM % | 5.25 % | -1.12 % | 3.84 % | + 4.96 % | -1.41 % |
| Other Income | Rs. 0.289 Cr | Rs. 1.032 Cr | Rs. 0.105 Cr | -89.83 % | -63.67 % |
| Interest | Rs. 1.25 Cr | Rs. 1.28 Cr | Rs. 0.71 Cr | -44.53 % | -43.2 % |
| Depreciation | Rs. 0.5 Cr | Rs. 0.41 Cr | Rs. 0.41 Cr | + 0 % | -18 % |
| Profit before tax | Rs. 0.03 Cr | Rs. -1.06 Cr | Rs. 0.17 Cr | + 116.04 % | + 466.67 % |
| Tax % | 73.91 % | -18.43 % | 37.5 % | + 55.93 % | -36.41 % |
| Net Profit | Rs. 0.04 Cr | Rs. -0.86 Cr | Rs. 0.11 Cr | + 112.79 % | + 175 % |
| EPS in Rs | Rs. 0.12 | Rs. -2.59 | Rs. 0.32 | + 112.36 % | + 166.67 % |
Today, we’re looking at Harish Textile Engineers Limited’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 8.4 %. However, it did see a marginal slip of -14.12 % from the previous quarter. Expenses decreased slightly by -18.33 % quarter-on-quarter, aligning with the annual rise of 10 %. Operating profit, while down -20.81 % compared to last year, faced a quarter-on-quarter increase of 395 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -1.41 %, but an expansion of 4.96 % sequentially. Other income fell by -89.83 % compared to the last quarter, despite an annual decline of -63.67 %. Interest expenses dropped significantly by -44.53 % from the previous quarter, yet the year-over-year decrease remains at a moderate -43.2 %. Depreciation costs climbed by 0 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -18 %. Profit before tax grew annually by 466.67 % but saw an increase from the preceding quarter by 116.04 %.
Tax expenses as a percentage of profits decreased slightly by -36.41 % compared to last year, with a more notable quarter-on-quarter increase of 55.93 %. Net profit rose by 175 % year-on-year but experienced a 112.79 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 166.67 % but a quarterly rise of 112.36 %. In summary, Harish Textile Engineers 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. 28.377 Cr | Rs. 35.821 Cr | Rs. 30.762 Cr | -14.12 % | + 8.4 % |
| Expenses | Rs. 26.89 Cr | Rs. 36.22 Cr | Rs. 29.58 Cr | -18.33 % | + 10 % |
| Operating Profit | Rs. 1.49 Cr | Rs. -0.4 Cr | Rs. 1.18 Cr | + 395 % | -20.81 % |
| Net Profit | Rs. 0.04 Cr | Rs. -0.86 Cr | Rs. 0.11 Cr | + 112.79 % | + 175 % |
| EPS in Rs | Rs. 0.12 | Rs. -2.59 | Rs. 0.32 | + 112.36 % | + 166.67 % |
In reviewing Harish Textile Engineers Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 8.4 % year-on-year growth, although there was a slight dip of -14.12 % from the previous quarter. Expenses rose by 10 % compared to the previous year, with a decrease of -18.33 % quarter-on-quarter. Operating Profit dropped by -20.81 % annually, and saw a 395 % increase from the last quarter.
Net Profit showed yearly increase of 175 %, and experienced a 112.79 % increase from the previous quarter. Earnings Per Share (EPS) rose by 166.67 % annually, however rose by 112.36 % compared to the last quarter. In essence, while Harish Textile Engineers 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.
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