Share the post "Minaxi Textiles ‘s Q1 Update: Revenue Decreases by 7.12% Year-on-Year"
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 -7.12 % over the year, substantial increase in net sales/revenue by 1.76 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -98.55 %, Marginal decrease of -25% in other income during this quarter.
- Profit over the Year and quarter: Challenges in sustaining profitability for Minaxi Textiles Ltd.. Profit dropped by -252.23 % Year to Year, Minaxi Textiles Ltd.’s profitability dropped by -41.88 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -246.15 % Year to Year. EPS decreased by -42.42 % 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. 9.654 Cr | Rs. 8.812 Cr | Rs. 8.967 Cr | + 1.76 % | -7.12 % |
| Expenses | Rs. 9.18 Cr | Rs. 10.56 Cr | Rs. 9.59 Cr | -9.19 % | + 4.47 % |
| Operating Profit | Rs. 0.47 Cr | Rs. -1.75 Cr | Rs. -0.62 Cr | + 64.57 % | -231.91 % |
| OPM % | 4.87 % | -19.86 % | -6.91 % | + 12.95 % | -11.78 % |
| Other Income | Rs. 0.83 Cr | Rs. 0.016 Cr | Rs. 0.012 Cr | -25 % | -98.55 % |
| Interest | Rs. 0.32 Cr | Rs. 0.24 Cr | Rs. 0.44 Cr | + 83.33 % | + 37.5 % |
| Depreciation | Rs. 0.15 Cr | Rs. 0.12 Cr | Rs. 0.15 Cr | + 25 % | + 0 % |
| Profit before tax | Rs. 0.83 Cr | Rs. -2.09 Cr | Rs. -1.2 Cr | + 42.58 % | -244.58 % |
| Tax % | 24.52 % | -21.22 % | -19.73 % | + 1.49 % | -44.25 % |
| Net Profit | Rs. 0.63 Cr | Rs. -1.65 Cr | Rs. -0.96 Cr | + 41.82 % | -252.38 % |
| EPS in Rs | Rs. 0.13 | Rs. -0.33 | Rs. -0.19 | + 42.42 % | -246.15 % |
Today, we’re looking at Minaxi Textiles Ltd.’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a significant year-over-year sales decline of -7.12 %. However, it did see a marginal increase of 1.76 % from the previous quarter. Expenses decreased slightly by -9.19 % quarter-on-quarter, aligning with the annual rise of 4.47 %. Operating profit, while down -231.91 % compared to last year, faced a quarter-on-quarter increase of 64.57 %, 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 -11.78 %, but an expansion of 12.95 % sequentially. Other income fell by -25 % compared to the last quarter, despite an annual decline of -98.55 %. Interest expenses surged remarkably by 83.33 % from the previous quarter, yet the year-over-year increase remains at a moderate 37.5 %. Depreciation costs climbed by 25 % quarter-on-quarter, whereas on an annual scale, they saw an increase of 0 %. Profit before tax declined annually by -244.58 % but saw an increase from the preceding quarter by 42.58 %.
Tax expenses as a percentage of profits decreased slightly by -44.25 % compared to last year, with a more notable quarter-on-quarter increase of 1.49 %. Net profit fell by -252.38 % year-on-year but experienced a 41.82 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -246.15 % but a quarterly rise of 42.42 %. In summary, Minaxi Textiles Ltd.’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. 9.654 Cr | Rs. 8.812 Cr | Rs. 8.967 Cr | + 1.76 % | -7.12 % |
| Expenses | Rs. 9.18 Cr | Rs. 10.56 Cr | Rs. 9.59 Cr | -9.19 % | + 4.47 % |
| Operating Profit | Rs. 0.47 Cr | Rs. -1.75 Cr | Rs. -0.62 Cr | + 64.57 % | -231.91 % |
| Net Profit | Rs. 0.63 Cr | Rs. -1.65 Cr | Rs. -0.96 Cr | + 41.82 % | -252.38 % |
| EPS in Rs | Rs. 0.13 | Rs. -0.33 | Rs. -0.19 | + 42.42 % | -246.15 % |
In reviewing Minaxi Textiles Ltd.’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -7.12 % year-on-year, however, there was a minor increase of 1.76 % from the previous quarter. Expenses rose by 4.47 % compared to the previous year, with a decrease of -9.19 % quarter-on-quarter. Operating Profit dropped by -231.91 % annually, and saw a 64.57 % increase from the last quarter.
Net Profit showed yearly decrease of -252.38 %, and experienced a 41.82 % increase from the previous quarter. Earnings Per Share (EPS) fell by -246.15 % annually, however rose by 42.42 % compared to the last quarter. In essence, while Minaxi Textiles Ltd. faces strong annual decline 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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