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El Forge Q1 Results Revenue Declines 1.76% QoQ and 6.61% YoY
El Forge Q1 Results show a revenue decrease of 1.76% QoQ and 6.61% YoY and the net profit for Q1 2024 is ₹45.92 lakhs, down from ₹6,996.35 lakhs in the previous quarter.
by Ruksana
Updated Sep 03, 2024
Table of Content
El Forge Q1 Results
El Forge Q1 Results: The table shows the financial results of El Forge for various periods. It includes details about income, expenses, profits, and other important figures for the quarter ended June 30, 2024, the previous quarter ended March 31, 2024, and the same quarter a year ago, ending June 30, 2023. It also includes figures for the full year ended March 31, 2024.
El Forge’s income earned Rs. 1,706.66 lakhs in the quarter ended June 30, 2024, which is less than the Rs. 1,743.13 lakhs earned in the previous quarter but slightly lower than Rs. 1,829.35 lakhs from the same quarter last year. This income includes revenue from operations and other income.
El Forge’s total expenses for the quarter were Rs. 1,660.73 lakhs. This includes costs like materials, employee salaries, and other operational costs. Compared to the previous quarter and the same quarter last year, expenses have decreased.
El Forge’s made a profit of Rs. 45.92 lakhs before considering special items and taxes in the current quarter. This is lower than the previous quarter’s profit of Rs. 70.50 lakhs. For the full year, the company reported a profit of Rs. 7,112.20 lakhs, largely due to extraordinary items.
El Forge’s EPS for the current quarter is Rs. 0.23, much lower than the Rs. 34.42 EPS from the previous quarter. The significant drop in EPS is mainly due to extraordinary items affecting the profits.
Here's a simplified version of the financial results you provided, presented in table format:
(Rs. Lakhs)
|
Particulars |
Quarter Ended June 30, 2024 |
Quarter Ended March 31, 2024 |
Quarter Ended June 30, 2023 |
Year Ended March 31, 2024 |
|
Income |
||||
|
Revenue from Operations |
1,702.24 |
1,732.81 |
1,822.65 |
6,832.24 |
|
Other Income |
4.42 |
10.32 |
6.70 |
40.53 |
|
Total Income |
1,706.66 |
1,743.13 |
1,829.35 |
6,872.76 |
|
Expenses |
||||
|
Cost of Materials and Services Consumed |
964.83 |
901.08 |
1,054.53 |
3,771.53 |
|
Changes in Inventories |
(80.17) |
71.89 |
(1.97) |
84.04 |
|
Total Cost of Goods Sold |
884.65 |
972.97 |
1,052.56 |
3,855.58 |
|
Employee Benefits Expense |
266.66 |
229.59 |
229.61 |
991.01 |
|
Finance Costs |
12.40 |
11.94 |
11.83 |
47.84 |
|
Depreciation and Amortisation Expense |
46.74 |
47.30 |
45.63 |
184.20 |
|
Other Expenses |
450.29 |
410.83 |
381.66 |
1,487.79 |
|
Total Expenses |
1,660.73 |
1,672.63 |
1,721.29 |
6,566.41 |
|
Profit/(Loss) Before Exchange Gain/Loss |
45.92 |
70.50 |
108.06 |
306.35 |
|
Exchange Gain/Loss on Swap Contracts |
- |
- |
- |
- |
|
Profit/(Loss) Before Exceptional Items |
45.92 |
70.50 |
108.06 |
306.35 |
|
Exceptional Items |
- |
30.00 |
60.00 |
150.00 |
|
Profit/(Loss) Before Extraordinary Items |
45.92 |
40.50 |
48.06 |
156.35 |
|
Extraordinary Items |
- |
6,955.85 |
- |
6,956.00 |
|
Profit/(Loss) Before Tax |
45.92 |
6,996.35 |
48.06 |
7,112.20 |
|
Tax Expense |
- |
- |
- |
- |
|
Net Profit/(Loss) for the Period |
45.92 |
6,996.35 |
48.06 |
7,112.20 |
|
Other Comprehensive Income |
- |
- |
- |
- |
|
Total Comprehensive Income |
45.92 |
6,996.35 |
48.06 |
7,112.20 |
|
Paid-Up Equity Share Capital |
20,32,43,040 |
20,32,43,040 |
20,32,43,040 |
20,32,43,040 |
|
Earnings Per Share (Rs.) |
0.23 |
34.42 |
0.24 |
34.99 |
Source: Here
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El Forge Financial Performance
El Forge saw a drop in total revenue in the first quarter of the year, which decreased from 18.24 crores in the previous quarter to 17.02 crores, a decline of 1.76%. Compared to the same period last year, this is a more significant drop of 6.61%. The company's selling, general, and administrative expenses increased by 16.15% from the previous quarter, reaching 2.67 crores.
El Forge expenses were 16.14% higher than last year. Depreciation and amortization costs went down slightly by 1.18% from the last quarter, totaling 0.47 crores, and increased slightly by 2.43% from the previous year.
El Forge’s other operating expenses rose by 9.60% from the last quarter, totaling 4.50 crores, and were 17.98% higher than last year. Total operating expenses decreased slightly by 0.00% from the previous quarter, reaching 16.48 crores, and were 6.84% lower compared to the same period last year. Operating income saw a huge improvement, going from a loss of 0.10 crores last quarter to a profit of 0.54 crores.
El Forge’s Net income before taxes and net income also increased significantly from the previous quarter but remained lower than the previous year. Diluted normalized earnings per share (EPS) fell by 33.69% from last quarter and by 57.38% from the previous year, showing a decrease in profitability.
Here's the Q1 financial results for El Forge in a simplified format:
(All figures in crores except per share values)
|
Metric |
Jun 24 |
Mar 23 |
QoQ Change |
Jun 23 |
YoY Change |
|
Total Revenue |
17.02 |
18.24 |
-1.76% |
18.23 |
-6.61% |
|
Selling/General/Admin Expenses |
2.67 |
3.07 |
16.15% |
2.30 |
16.14% |
|
Depreciation/Amortization |
0.47 |
1.27 |
-1.18% |
0.46 |
2.43% |
|
Other Operating Expenses Total |
4.50 |
3.79 |
9.60% |
3.82 |
17.98% |
|
Total Operating Expense |
16.48 |
18.34 |
-0.00% |
17.69 |
-6.84% |
|
Operating Income |
0.54 |
-0.10 |
-99.23% |
0.53 |
1.32% |
|
Net Income Before Taxes |
0.46 |
0.03 |
-99.34% |
0.48 |
-4.45% |
|
Net Income |
0.46 |
0.03 |
-99.34% |
0.48 |
-4.45% |
|
Diluted Normalized EPS |
0.23 |
0.47 |
-33.69% |
0.54 |
-57.38% |
Quarterly Results
El Forge's financial table gives a snapshot of the company's stock performance and value. The market cap, ₹58.5 Cr, shows the total value of all its shares combined. The current price is ₹28.8, indicating what each share costs now. The high and low prices over a certain period were ₹28.8 and ₹9.15, showing the range of the share price. The Stock P/E ratio of 24.0 tells us how much investors are willing to pay for each unit of earnings.
Here is the information about the stock:
|
Parameter |
Value |
|
Market Cap |
₹ 58.5 Cr |
|
Current Price |
₹ 28.8 |
|
High / Low |
₹ 28.8 / ₹ 9.15 |
|
Stock P/E |
24.0 |
|
Book Value |
₹ 11.1 |
|
Dividend Yield |
0.00 % |
|
ROCE |
% |
|
ROE |
% |
|
Face Value |
₹ 10.0 |
About El Forge
EL Forge is a company that makes high-quality forged and semi-machined parts for both the automotive and non-automotive industries. The company started its forging business in 1964 and has grown significantly since then. Today, EL Forge is known for its advanced manufacturing technology and has earned recognition from leading tier 1 automotive component manufacturers.
EL Forge operates a modern manufacturing plant located in Appur, near Chennai, India. EL Forge serves customers across three continents: Europe, the USA, and Asia (specifically in India). Its clients include top-tier automotive component suppliers, both in original equipment manufacturing (OEM) and the retail sector.
EL Forge offers a complete range of services, from the initial idea and product design to testing and final production. This means they can handle every step of the process to ensure high-quality results. With their extensive experience and advanced technology, EL Forge has established itself as a trusted partner in the forging and machining industry.
El Forge Q1 Results - FAQs
1. What is El Forge’s revenue from operations for Q1 2024?
El Forge’s revenue from operations for Q1 2024 is ₹1,702.24 lakhs.
2. How much did El Forge earn in other income during Q1 2024?
El Forge earned ₹4.42 lakhs in other income during Q1 2024.
3. What were El Forge’s total expenses for Q1 2024?
El Forge’s total expenses for Q1 2024 were ₹1,660.73 lakhs.
4. What is El Forge’s profit before tax for Q1 2024?
El Forge’s profit before tax for Q1 2024 is ₹45.92 lakhs.
5. How did El Forge’s revenue in Q1 2024 compare to Q4 2024?
El Forge’s revenue in Q1 2024 decreased compared to Q4 2024, which was ₹1,743.13 lakhs.
6. What was El Forge’s total operating expense in Q1 2024?
El Forge’s total operating expense in Q1 2024 was ₹16.48 crores.
7. How much did El Forge’s operating income improve in Q1 2024?
El Forge’s operating income improved to ₹0.54 crores in Q1 2024 from a loss of ₹0.10 crores in the previous quarter.
8. What was El Forge’s net income before taxes in Q1 2024?
El Forge’s net income before taxes in Q1 2024 was ₹0.46 crores.
9. What was the total comprehensive income for El Forge in Q1 2024?
El Forge’s total comprehensive income in Q1 2024 was ₹45.92 lakhs.
10. What is El Forge’s market capitalization?
El Forge’s market capitalization is ₹58.5 crores.