BWL Ltd Q1 Results with Revenue of ₹385.00 Lakhs & PAT ₹343.88 Lakhs

BWL Q1 Results

BWL Q1 Results: BWL’s financial results for the quarter ending June 30, 2024, show various figures comparing the current period with the same period last year and the previous quarter. The company's revenue from operations was 385 lakhs, which is a significant increase compared to just 3.85 lakhs in the same quarter last year and 7.74 lakhs in the previous quarter. Other income, such as interest receipts and sales of obsolete inventories, added 0.82 lakhs to the total revenue, making it 385.82 lakhs in total.

BWL's total expenses amounted to 41.94 lakhs. These include costs for materials, stock purchases, changes in inventory, employee benefits, finance costs, depreciation, legal charges, and other expenses. Last year, the expenses were higher at 46.56 lakhs, and in the previous quarter, they were 41.27 lakhs.

After subtracting the expenses from the total revenue, BWL reported a profit before tax of 343.88 lakhs. This is a significant improvement compared to a loss of 41.69 lakhs in the same quarter last year and a loss of 25.61 lakhs in the previous quarter. The company did not have any tax expenses, resulting in the same profit amount of 343.88 lakhs. The earnings per share were -0.24 for both basic and diluted, reflecting a loss per share.

Here is a simplified summary of the financial results for the quarter ended June 30, 2024:

(Rupees in Lakhs)

Source: Here 

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BWL Stock Performance

The BWL table provides important financial details about a company. The Current Price of the stock is ₹ 25.4. High / Low prices aren't listed, which usually indicates the highest and lowest prices the stock has reached. The dividend Yield is 0.00%, meaning no dividends are paid. ROCE is -45.2%, showing a negative return on the capital invested. 

Here's the information in table format:

Quarterly Results 

For Dec 2023, Mar 2024, and Jun 2024, BWL’s financial data shows consistent challenges. Sales were zero in all three quarters, meaning no revenue was generated. Expenses varied slightly, with the highest at 0.20 crores in Mar 2024. Operating profit remained negative, indicating ongoing losses. Other income provided some relief but did not significantly improve the overall financial situation. Depreciation was stable at 0.01 crores.

Here's the data for Dec 2023, Mar 2024, and Jun 2024:

(Figures in Rs. Crores)

About BWL 

BWL, originally named Bhilai Wires, was established on June 22, 1991, by Shri H.P. Khetawat in Bhilai, Chhattisgarh. The company started by producing steel wires, with a capacity of 24,000 metric tons per year. Their Steel Wire Division began operations on August 8, 1973. In 1993-94, BWL expanded its business to include Optical Fibre Cable (OFC) production, setting up a new facility in Shoghi, Himachal Pradesh, at a cost of Rs. 29.38 crores. This facility had a capacity of 9,000 conductor kilometers, equivalent to 108,000 fiber kilometers. OFC production started on July 1, 1995.

Despite these advancements, BWL faced problems after 1996 due to overcapacity in OFC, falling prices, and low steel sector performance. The company's financial situation worsened, leading to it being declared sick by the BIFR in 2002. By 2009, BWL settled its debts with secured creditors and sold off its Optical Fibre Cable assets to raise funds.

The Steel Wire Division's operations were temporarily halted from July 2008. After SICA was repealed and the Insolvency and Bankruptcy Code (IBC) 2016 came into effect on December 1, 2016, BWL could no longer apply for rehabilitation under the new law.