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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 -8.03 % over the year, decrease in net sales/revenue by -2.81 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -20.76 %, Marginal increase in other income during this quarter, up by 19.91%.
- Profit over the Year and quarter: Challenges in sustaining profitability for Rico Auto Industries Limited. Profit dropped by -38.64 % Year to Year, Rico Auto Industries Limited’s profitability dropped by -69.78 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -39.02 % Year to Year. EPS decreased by -70.24 % 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. 426.28 Cr | Rs. 403.4 Cr | Rs. 392.07 Cr | -2.81 % | -8.03 % |
| Expenses | Rs. 389.55 Cr | Rs. 363.24 Cr | Rs. 362.95 Cr | -0.08 % | -6.83 % |
| Operating Profit | Rs. 36.73 Cr | Rs. 40.16 Cr | Rs. 29.12 Cr | -27.49 % | -20.72 % |
| OPM % | 8.62 % | 9.96 % | 7.43 % | -2.53 % | -1.19 % |
| Other Income | Rs. 9.73 Cr | Rs. 6.43 Cr | Rs. 7.71 Cr | + 19.91 % | -20.76 % |
| Interest | Rs. 11.78 Cr | Rs. 11.22 Cr | Rs. 9.68 Cr | -13.73 % | -17.83 % |
| Depreciation | Rs. 26.19 Cr | Rs. 24.7 Cr | Rs. 23.45 Cr | -5.06 % | -10.46 % |
| Profit before tax | Rs. 8.49 Cr | Rs. 10.67 Cr | Rs. 3.7 Cr | -65.32 % | -56.42 % |
| Tax % | 34.16 % | 13.59 % | 31.62 % | + 18.03 % | -2.54 % |
| Net Profit | Rs. 5.59 Cr | Rs. 11.35 Cr | Rs. 3.43 Cr | -69.78 % | -38.64 % |
| EPS in Rs | Rs. 0.41 | Rs. 0.84 | Rs. 0.25 | -70.24 % | -39.02 % |
Today, we’re looking at Rico Auto Industries 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 -8.03 %. However, it did see a marginal slip of -2.81 % from the previous quarter. Expenses decreased slightly by -0.08 % quarter-on-quarter, aligning with the annual decline of -6.83 %. Operating profit, while down -20.72 % compared to last year, faced a quarter-on-quarter dip of -27.49 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -1.19 %, but a shrinkage of -2.53 % sequentially. Other income rose by 19.91 % compared to the last quarter, despite an annual decline of -20.76 %. Interest expenses dropped significantly by -13.73 % from the previous quarter, yet the year-over-year decrease remains at a moderate -17.83 %. Depreciation costs fell by -5.06 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -10.46 %. Profit before tax declined annually by -56.42 % but saw a reduction from the preceding quarter by -65.32 %.
Tax expenses as a percentage of profits decreased slightly by -2.54 % compared to last year, with a more notable quarter-on-quarter increase of 18.03 %. Net profit fell by -38.64 % year-on-year but witnessed a -69.78 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -39.02 % but a quarterly fall of -70.24 %. In summary, Rico Auto Industries 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. 426.28 Cr | Rs. 403.4 Cr | Rs. 392.07 Cr | -2.81 % | -8.03 % |
| Expenses | Rs. 389.55 Cr | Rs. 363.24 Cr | Rs. 362.95 Cr | -0.08 % | -6.83 % |
| Operating Profit | Rs. 36.73 Cr | Rs. 40.16 Cr | Rs. 29.12 Cr | -27.49 % | -20.72 % |
| Net Profit | Rs. 5.59 Cr | Rs. 11.35 Cr | Rs. 3.43 Cr | -69.78 % | -38.64 % |
| EPS in Rs | Rs. 0.41 | Rs. 0.84 | Rs. 0.25 | -70.24 % | -39.02 % |
In reviewing Rico Auto Industries Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -8.03 % year-on-year, although there was a slight dip of -2.81 % from the previous quarter. Expenses decreased by -6.83 % compared to the previous year, with a decrease of -0.08 % quarter-on-quarter. Operating Profit dropped by -20.72 % annually, and saw a -27.49 % decrease from the last quarter.
Net Profit showed yearly decrease of -38.64 %, and experienced a -69.78 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -39.02 % annually, however dipped by -70.24 % compared to the last quarter. In essence, while Rico Auto Industries Limited faces strong annual decline indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
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