Fedders Holding Q1 Results Revenue Soars to ₹142.01 Crores, Up 92% YoY

Fedders Holding Q1 Results: Fedders Holding's Q1 financial results show significant changes both year-over-year (YoY) and quarter-on-quarter (QoQ). The total revenue for the June 2024 quarter was ₹142.01 crores, which is much higher than the ₹55.56 crores from the March 2023 quarter (QoQ), and also increased significantly from ₹74.11 crores in June 2023 (YoY). This strong growth shows how the company improved its revenue over the year.

Fedders Holding’s selling/general/admin expenses remained low, only ₹0.04 crores this quarter, compared to ₹0.10 crores in March 2023 (QoQ) and ₹0.11 crores in June 2023 (YoY). This indicates stable cost management. Depreciation/amortization was ₹0.68 crores, slightly up from ₹0.49 crores both QoQ and YoY, showing a slight increase in asset costs.

Fedders Holding’s Operating income rose to ₹15.10 crores in June 2024, a big jump from ₹3.19 crores in March 2023 (QoQ), and a turnaround from the loss of ₹0.41 crores in June 2023 (YoY). This highlights a significant improvement in profit generation.

Fedders Holding’s net income also showed strong growth, reaching ₹20.16 crores, up from ₹12.39 crores QoQ and ₹5.45 crores YoY. This year-over-year growth in income and revenue reflects the company's strong performance in 2024 compared to the previous year.

Here is a simplified breakdown of Fedders Holding's Q1 results, with all figures in crores:

Source: Here 

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Fedders Holding Q1 Results

Fedders Holding’s Income from Operations was very low at ₹0.29 crores in June 2024 compared to ₹30.06 crores in June 2023 for standalone results. However, other income, like earnings from other activities, was ₹128.54 crores, making the total income ₹128.83 crores. Despite lower expenses, Fedders Holding still had a loss of ₹23.07 crores for the quarter.

Fedders Holding’s income from operations in June 2024 was much stronger at ₹14,201.47 crores, almost double compared to the same quarter in June 2023 for consolidated results. This shows growth, but the company’s total expenses, such as costs for materials, employee salaries, and other expenses, were also very high. Even with these costs, Fedders reported a profit of ₹2,014.84 crores, which is much higher than the ₹547.94 crores profit from last year.

Here's the complete financial data presented in table format:

(Amount in Lacs except in Earning Per Share) 

Fedders Holding Stock Performance

Fedders Holding is a company with a market capitalization of ₹ 1,676 crore, indicating its overall value in the stock market. The current stock price is ₹ 98.0, and it has fluctuated between a high of ₹ 130 and a low of ₹ 40. The stock's price-to-earnings (P/E) ratio is 15.5, which helps investors assess its valuation compared to earnings. The book value per share is ₹ 41.7, showing what the company is worth per share. Fedders Holding does not offer dividends, with a dividend yield of 0.00%. 

Here’s a simple table based on the information you provided:

Quarterly Results

The Fedders Holding financial table shows the company's performance for December 2023, March 2024, and June 2024. In December 2023, the company had strong sales of 188 Crores and a net profit of 42 Crores, indicating good financial health. However, in March 2024, sales dropped to 140 Crores, and the net profit decreased to 12 Crores, which suggests a challenging quarter. By June 2024, sales slightly improved to 142 Crores, and net profit increased to 20 Crores, showing recovery.

Here are the quarterly results specifically for December 2023, March 2024, and June 2024, presented in a simplified table format:

(Rs. in crores)

About Fedders Holding 

Fedders Holding is a company that focuses on managing investments and providing strategic direction to its subsidiaries, including Fedders Electric and Engineering (FEEL). In 2021, Fedders Holding acquired FEEL to enter new markets and grow its business. FEEL operates in the iron ore mining and steel manufacturing industries. It aims to manage the entire process from mining iron ore to producing TMT bars, which are strong steel bars used in construction. The company also exports iron ore to countries like Switzerland, Singapore, Hong Kong, and Dubai.

FEEL has production plants for manufacturing MS (Mild Steel) pipes and GI (Galvanized Iron) pipes in various sizes. It uses advanced technology to enhance the quality of iron ore through a process called beneficiation. Recently, Fedders Holding announced plans to build an iron ore beneficiation plant in Odisha, aiming to improve its production capacity and efficiency.