Foseco India Q1 Results Total Revenue ₹122.55 Crores & Operating income ₹17.70 Crores

Foseco India Q1 Results: For Foseco India's Q1 results, the company saw several changes in its financial metrics. In the fiscal period ending March 2024, Foseco India's total revenue was ₹122.55 crores. This represents a 10.46% increase year-over-year (YoY), compared to ₹110.95 crores in March 2023. The company's selling, general, and administrative expenses totaled ₹12.97 crores, which was 10.90% lower YoY from ₹14.56 crores last year.

Foseco India’s Depreciation and amortization expenses decreased by 38.89% YoY, down to ₹2.17 crores from ₹1.56 crores in the previous year. Other operating expenses increased by 12.65% YoY, reaching ₹24.15 crores compared to ₹21.44 crores in March 2023.

Foseco India’s Total operating expenses rose by 8.07% YoY, amounting to ₹104.85 crores, up from ₹97.01 crores a year ago. Operating income, however, improved by 27.09% YoY, reaching ₹17.70 crores compared to ₹13.93 crores last year. Net income before taxes increased by 11.09% YoY to ₹21.26 crores, while net income rose by 11.31% YoY to ₹15.85 crores. Diluted normalized earnings per share (EPS) grew by 11.31% YoY to ₹24.81.

Here are the quarterly financial results for Foseco India for Q1:

(Rs. in Crores)

Source: Here 

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Foseco India Q1 Results 

For this quarter, Foseco India earned ₹12,501.47 lakhs from their main business activities, which is a bit more than the ₹12,255.20 lakhs they earned in the previous quarter. They also made ₹403.66 lakhs from other sources, up from ₹358.09 lakhs before. Adding these together, their total income this quarter was ₹12,905.13 lakhs, which is an increase from ₹12,613.29 lakhs last quarter.

Foseco India spent ₹6,611.54 lakhs on materials, which is higher compared to ₹5,750.74 lakhs previously. They bought stock for ₹531.07 lakhs, a small rise from ₹529.22 lakhs. They also saw a decrease in inventories, meaning they had less finished goods and work-in-progress, resulting in a negative change of ₹498.44 lakhs, compared to a positive change of ₹275.56 lakhs before. Total expenses were ₹10,407.89 lakhs, slightly down from ₹10,487.16 lakhs last quarter.

After covering all costs, Foseco India’s profit before tax was ₹2,497.24 lakhs, up from ₹2,126.13 lakhs last quarter. They paid ₹670.00 lakhs in current tax, with an overall tax expense of ₹646.93 lakhs. Their net profit for the quarter was ₹1,850.31 lakhs, improving from ₹1,584.72 lakhs. Earnings per share increased to ₹28.97 from ₹24.81. Overall, the company had a good quarter, earning more despite higher costs.

Here’s a simplified summary of the unaudited financial results for the quarter and six months ending June 30, 2024:

(All figures in Rupees Lakhs)

Foseco India Financial Performance

The table provides key financial details about Foseco India’s stock. The company has a market capitalization of ₹2,913 crore, indicating its total market value. The current price of its stock is ₹4,565, with its highest price being ₹5,426 and the lowest at ₹2,852 over a period. The Price-to-Earnings (P/E) ratio is 44.7, showing how much investors are willing to pay per unit of earnings. The book value of the stock is ₹476, and it has a dividend yield of 0.54%, meaning it pays a small return to shareholders. 

Here’s the information in a table format:

Quarterly Results 

Foseco India’s quarterly results for December 2023, March 2024, and June 2024, the company showed steady growth. For December 2023, Foseco reported sales of ₹122 crores with expenses of ₹103 crores, resulting in an operating profit of ₹20 crores and a profit before tax of ₹22 crores. In March 2024, sales slightly increased to ₹123 crores, while expenses remained the same, and the operating profit stayed at ₹20 crores. 

Here's the transposed quarterly results for Dec 2023, Mar 2024, and Jun 2024:

About Foseco India 

Foseco India is a key player in the foundry industry, specializing in advanced products and services to support metal casting processes. Established as a part of the global Foseco brand, which originated in Birmingham, UK, Foseco India offers a wide range of innovative solutions to improve foundry operations. Their products include fluxes, alloys, and other materials that enhance the quality and efficiency of metal casting.

Foseco India is known for its commitment to technology and customer support, aiming to provide tailored solutions that meet the specific needs of the Indian market. With a focus on continuous improvement and customer satisfaction, Foseco India plays a crucial role in advancing the foundry sector through cutting-edge technology and expertise. The company's dedication to research and development ensures that they stay at the forefront of industry innovations.