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Highlights
- Sales over the Year and quarter: The company experienced a substantial growth of 30.12 % in the past year, substantial increase in net sales/revenue by 0.28 %.
- 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 42.57 %. Marginal increase in other income during this quarter, up by 136.07%.
- Profit over the Year and quarter: Significant improvement in profitability for Nitin Spinners Limited. Notable increase of 45.74 % in net profit Year to Year, Nitin Spinners Limited’s profitability increased by 7.51 % in this quarter.
- EPS over the Year and quarter: EPS increased by 45.72 % Year to Year. EPS increased by 7.46 % in previous quarter. Positive impact on shareholders.
Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
---|---|---|---|---|---|
Sales | Rs. 617.115 Cr | Rs. 800.714 Cr | Rs. 802.967 Cr | + 0.28 % | + 30.12 % |
Expenses | Rs. 541.02 Cr | Rs. 684.47 Cr | Rs. 684.17 Cr | -0.04 % | + 26.46 % |
Operating Profit | Rs. 76.1 Cr | Rs. 116.24 Cr | Rs. 118.8 Cr | + 2.2 % | + 56.11 % |
OPM % | 12.33 % | 14.52 % | 14.8 % | + 0.28 % | + 2.47 % |
Other Income | Rs. 1.01 Cr | Rs. 0.61 Cr | Rs. 1.44 Cr | + 136.07 % | + 42.57 % |
Interest | Rs. 15.12 Cr | Rs. 27.83 Cr | Rs. 26.6 Cr | -4.42 % | + 75.93 % |
Depreciation | Rs. 23.03 Cr | Rs. 36.25 Cr | Rs. 36.71 Cr | + 1.27 % | + 59.4 % |
Profit before tax | Rs. 38.96 Cr | Rs. 52.77 Cr | Rs. 56.93 Cr | + 7.88 % | + 46.12 % |
Tax % | 25.83 % | 25.78 % | 26.01 % | + 0.23 % | + 0.18 % |
Net Profit | Rs. 28.9 Cr | Rs. 39.17 Cr | Rs. 42.12 Cr | + 7.53 % | + 45.74 % |
EPS in Rs | Rs. 5.14 | Rs. 6.97 | Rs. 7.49 | + 7.46 % | + 45.72 % |
Today, we’re looking at Nitin Spinners 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 30.12 %. However, it did see a marginal increase of 0.28 % from the previous quarter. Expenses decreased slightly by -0.04 % quarter-on-quarter, aligning with the annual rise of 26.46 %. Operating profit, while up 56.11 % compared to last year, faced a quarter-on-quarter increase of 2.2 %, 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 2.47 %, but an expansion of 0.28 % sequentially. Other income rose by 136.07 % compared to the last quarter, despite an annual growth of 42.57 %. Interest expenses dropped significantly by -4.42 % from the previous quarter, yet the year-over-year increase remains at a moderate 75.93 %. Depreciation costs climbed by 1.27 % quarter-on-quarter, whereas on an annual scale, they saw an increase of 59.4 %. Profit before tax grew annually by 46.12 % but saw an increase from the preceding quarter by 7.88 %.
Tax expenses as a percentage of profits increased slightly by 0.18 % compared to last year, with a more notable quarter-on-quarter increase of 0.23 %. Net profit rose by 45.74 % year-on-year but experienced a 7.53 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 45.72 % but a quarterly rise of 7.46 %. In summary, Nitin Spinners 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. 617.115 Cr | Rs. 800.714 Cr | Rs. 802.967 Cr | + 0.28 % | + 30.12 % |
Expenses | Rs. 541.02 Cr | Rs. 684.47 Cr | Rs. 684.17 Cr | -0.04 % | + 26.46 % |
Operating Profit | Rs. 76.1 Cr | Rs. 116.24 Cr | Rs. 118.8 Cr | + 2.2 % | + 56.11 % |
Net Profit | Rs. 28.9 Cr | Rs. 39.17 Cr | Rs. 42.12 Cr | + 7.53 % | + 45.74 % |
EPS in Rs | Rs. 5.14 | Rs. 6.97 | Rs. 7.49 | + 7.46 % | + 45.72 % |
In reviewing Nitin Spinners Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 30.12 % year-on-year growth, however, there was a minor increase of 0.28 % from the previous quarter. Expenses rose by 26.46 % compared to the previous year, with a decrease of -0.04 % quarter-on-quarter. Operating Profit surged by 56.11 % annually, and saw a 2.2 % increase from the last quarter.
Net Profit showed yearly increase of 45.74 %, and experienced a 7.53 % increase from the previous quarter. Earnings Per Share (EPS) rose by 45.72 % annually, however rose by 7.46 % compared to the last quarter. In essence, while Nitin Spinners 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.