Jai Balaji Industries Q1 Results Revenue Declines 0.33% QoQ and Rises 15.90% YoY

Jai Balaji Industries Q1 Results: In the first quarter of 2024, Jai Balaji Industries reported its financial results. Their total revenue for this period was ₹1,718.31 crores, which is slightly lower than the previous quarter but higher than the same quarter last year. The company's expenses on selling, general, and administrative costs increased by about 19.19% from the last quarter and 13.31% from a year ago. Depreciation and amortization costs went down by 9.42% from the previous quarter but were slightly higher than last year.

Jai Balaji Industries’ other operating expenses dropped significantly by 33.23% from the previous quarter, showing better cost management, and were up 18.14% compared to the same period last year. As a result, the total operating expenses decreased by 15.46% compared to the last quarter but increased by 9.70% from a year ago. The company’s operating income improved drastically, reflecting a 653.48% increase from the previous quarter and a 59.72% rise year-over-year.

Jai Balaji Industries’ net income before taxes also saw a substantial increase of 743.41% from the last quarter and 68.57% from the same quarter last year. Net income turned positive compared to a loss in the previous quarter and increased by 22.53% year-over-year. The earnings per share (EPS) also improved significantly from a loss to a gain, indicating strong performance in this quarter.

Here's the quarterly financial results for Jai Balaji Industries for Q1:

Source: Here 

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Jai Balaji Industries Q1 Results

Here is a simplified table of the financial results for the quarter ended 30th June 2024, comparing Standalone and Consolidated results:

For the Standalone results, the company made ₹1,718.31 crore from its main business activities, and earned an additional ₹9.50 crore from other sources. This brought the total income to ₹1,727.81 crore. On the expense side, the company spent ₹1,054.31 crore on materials, and ₹2.12 crore on purchasing stock, and faced changes in inventory values.

Jai Balaji Industries’ other expenses included employee costs of ₹41.91 crore, finance costs of ₹15.77 crore, depreciation of ₹22.23 crore, and additional costs of ₹313.12 crore. The total expenses amounted to ₹1,440.52 crore. After deducting these expenses from the total income, the profit before tax was ₹287.29 crore. After paying taxes of ₹78.47 crore, the net profit was ₹208.82 crore. The company’s earnings per share were ₹12.10 (basic) and ₹11.76 (diluted).

Jai Balaji Industries’ Consolidated results show similar figures, with the same total income, expenses, and net profit. The company’s paid-up equity share capital is ₹177.45 crore, and the earnings per share match the Standalone results.

Jai Balaji Industries Stock Performance

Jai Balaji Industries' financial table shows important details about the company's stock. The market cap of ₹16,205 Crore means this is the total value of all its shares combined. The current stock price is ₹908. It has reached a high of ₹1,314 and a low of ₹250 in the past. The Price-to-Earnings (P/E) ratio of 17.7 indicates how much investors are willing to pay for each rupee of earnings. 

Here's the information in table format:

Quarterly Results 

The table shows Jai Balaji Industries' financial performance over three quarters: December 2023, March 2024, and June 2024. In December 2023, the company had sales of 1,539 crores and expenses of 1,292 crores, resulting in an operating profit of 247 crores and a net profit of 235 crores. 

Here are the quarterly results for December 2023, March 2024, and June 2024:

(Figures in Rs. Crores)

About Jai Balaji Industries 

Jai Balaji Industries is a major steel manufacturer in Eastern India with eight integrated steel plants located in West Bengal, Chhattisgarh, Orissa, and Jharkhand. They produce a wide range of steel products, including DRI (Sponge Iron), Pig Iron, Ferro Alloys, Alloy and Mild Steel Billets, Reinforcement Steel TMT Bars, Wire Rods, Ductile Iron Pipes, and Alloy and Mild Steel Heavy Rounds. The company has a total production capacity of over 27,40,000 tonnes per year, making it one of the largest private steel producers in the region.

Jai Balaji Industries is known for its commitment to innovation and quality, focusing on creating safe and sustainable products for its global customers. Jai Balaji Industries has grown significantly due to the strong leadership of its promoters and directors, as well as the dedication of its employees. Their growth strategy includes expanding into power generation and other related industries. This diversification helps them to enhance their business and meet the evolving needs of their customers while maintaining their position as a leader in the steel industry.