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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 24.16 % in the past year, decrease in net sales/revenue by -23.26 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -66.67 %, Marginal increase in other income during this quarter, up by 22.06%.
- Profit over the Year and quarter: Challenges in sustaining profitability for Mirc Electronics Ltd. Profit dropped by -107.07 % Year to Year, Mirc Electronics Ltd’s profitability dropped by -100.86 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -107.41 % Year to Year. EPS decreased by -100.9 % 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. 183.47 Cr | Rs. 296.83 Cr | Rs. 227.79 Cr | -23.26 % | + 24.16 % |
| Expenses | Rs. 186.7 Cr | Rs. 342.83 Cr | Rs. 223.08 Cr | -34.93 % | + 19.49 % |
| Operating Profit | Rs. -3.23 Cr | Rs. -46 Cr | Rs. 4.71 Cr | + 110.24 % | + 245.82 % |
| OPM % | -1.76 % | -15.5 % | 2.07 % | + 17.57 % | + 3.83 % |
| Other Income | Rs. 2.49 Cr | Rs. 0.68 Cr | Rs. 0.83 Cr | + 22.06 % | -66.67 % |
| Interest | Rs. 3.31 Cr | Rs. 3.93 Cr | Rs. 3.29 Cr | -16.28 % | -0.6 % |
| Depreciation | Rs. 2.17 Cr | Rs. 1.86 Cr | Rs. 1.81 Cr | -2.69 % | -16.59 % |
| Profit before tax | Rs. -6.22 Cr | Rs. -51.11 Cr | Rs. 0.44 Cr | + 100.86 % | + 107.07 % |
| Tax % | -0 % | -0 % | 0 % | 0 % | 0 % |
| Net Profit | Rs. -6.22 Cr | Rs. -51.11 Cr | Rs. 0.44 Cr | + 100.86 % | + 107.07 % |
| EPS in Rs | Rs. -0.27 | Rs. -2.21 | Rs. 0.02 | + 100.9 % | + 107.41 % |
Today, we’re looking at Mirc Electronics Ltd’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 24.16 %. However, it did see a marginal slip of -23.26 % from the previous quarter. Expenses decreased slightly by -34.93 % quarter-on-quarter, aligning with the annual rise of 19.49 %. Operating profit, while up 245.82 % compared to last year, faced a quarter-on-quarter increase of 110.24 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % echoes this narrative, showing resilience on an annual basis with an increase of 3.83 %, but an expansion of 17.57 % sequentially. Other income rose by 22.06 % compared to the last quarter, despite an annual decline of -66.67 %. Interest expenses dropped significantly by -16.28 % from the previous quarter, yet the year-over-year decrease remains at a moderate -0.6 %. Depreciation costs fell by -2.69 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -16.59 %. Profit before tax grew annually by 107.07 % but saw an increase from the preceding quarter by 100.86 %.
Net profit rose by 107.07 % year-on-year but experienced a 100.86 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 107.41 % but a quarterly rise of 100.9 %. In summary, Mirc Electronics 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. 183.47 Cr | Rs. 296.83 Cr | Rs. 227.79 Cr | -23.26 % | + 24.16 % |
| Expenses | Rs. 186.7 Cr | Rs. 342.83 Cr | Rs. 223.08 Cr | -34.93 % | + 19.49 % |
| Operating Profit | Rs. -3.23 Cr | Rs. -46 Cr | Rs. 4.71 Cr | + 110.24 % | + 245.82 % |
| Net Profit | Rs. -6.22 Cr | Rs. -51.11 Cr | Rs. 0.44 Cr | + 100.86 % | + 107.07 % |
| EPS in Rs | Rs. -0.27 | Rs. -2.21 | Rs. 0.02 | + 100.9 % | + 107.41 % |
In reviewing Mirc Electronics Ltd’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 24.16 % year-on-year growth, although there was a slight dip of -23.26 % from the previous quarter. Expenses rose by 19.49 % compared to the previous year, with a decrease of -34.93 % quarter-on-quarter. Operating Profit surged by 245.82 % annually, and saw a 110.24 % increase from the last quarter.
Net Profit showed yearly increase of 107.07 %, and experienced a 100.86 % increase from the previous quarter. Earnings Per Share (EPS) rose by 107.41 % annually, however rose by 100.9 % compared to the last quarter. In essence, while Mirc Electronics Ltd 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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