Kiri Industries Q1 Results Growth Total Revenue of ₹265.17 crores & Net Income ₹78.19 crores

Kiri Industries Q1 Results: Kiri Industries' Q1 results for June 2024 show significant improvement, especially when comparing year-over-year (YoY) performance. The company’s total revenue for this quarter was ₹265.17 crores, a strong 16.65% growth compared to ₹227.33 crores in June 2023. This YoY increase indicates the company’s growth and improved sales over the past year. When comparing quarter-on-quarter (QoQ) with March 2023, revenue increased from ₹222.45 crores, reflecting a small drop of 1.45%, but overall the YoY growth is more notable.

Kiri Industries’ operating expenses also saw a YoY increase, with selling/general/administrative expenses rising 6.30% to ₹12.23 crores, compared to ₹11.51 crores in June 2023. However, depreciation costs slightly declined YoY by 3.83%, from ₹12.19 crores last year to ₹11.72 crores this year.

Kiri Industries’ operating expenses, like total operating costs, increased 9.40% YoY, moving up from ₹237.78 crores to ₹260.14 crores. The company’s performance improved significantly in terms of net income, showing a YoY turnaround from a loss of ₹2.54 crores in June 2023 to a net profit of ₹78.19 crores this year. This is a key YoY improvement, reflecting better profitability. Additionally, the company's diluted EPS shifted YoY from a negative ₹0.49 to ₹15.08, indicating stronger earnings per share.

Here is a summary of Kiri Industries' Q1 financial results for June 2024:

(₹ in crores)

Source: Here 

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Kiri Industries Q1 Results

Kiri Industries earned Rs. 16,799.66 lakhs from their operations for this quarter (June 2024). This is less than what they earned in the previous quarter (March 2024), where they made Rs. 19,979.75 lakhs, but more than what they earned in the same quarter last year (June 2023), which was Rs. 14,145.11 lakhs. They also earned Rs. 1,414.08 lakhs in other income, making their total income Rs. 18,213.74 lakhs.

On Kiri Industries expenses side, the biggest cost was for materials, which amounted to Rs. 10,460.61 lakhs. Other significant expenses included employee benefits (Rs. 1,017.40 lakhs) and other expenses like operational costs (Rs. 4,033.17 lakhs). Overall, their total expenses were Rs. 18,489.33 lakhs.

Kiri Industries made a loss before tax of Rs. 275.59 lakhs this quarter, which is worse than the Rs. 231.63 lakhs loss from last year but better than the Rs. 2,623.86 lakhs loss from the previous quarter. After adjusting for tax, the company reported a loss of Rs. 172.90 lakhs for the quarter.

Here’s a simplified version of the financial results for the quarter ending June 30, 2024, in table format:

(All figures in Rs. Lakhs)

Kiri Industries Q1 Stock Performance

Kiri Industries is a company with a market capitalization of ₹1,778 crore, which means the total value of all its shares is worth that much. The current price of one share is ₹343. Over the past year, the highest price for the stock was ₹454, and the lowest was ₹261. The Price-to-Earnings (P/E) ratio is 8.31, showing how much investors are paying for each rupee of the company's profit. The book value per share is ₹542, which represents the company’s assets minus its liabilities. 

Here is the information in table format:

Quarterly Results 

Kiri Industries' performance for Dec 2023, Mar 2024, and Jun 2024 shows mixed results. In Dec 2023, the company had sales of ₹221 crores but faced a small loss in operating profit (-₹11 crores) due to high expenses. However, they still achieved a strong net profit of ₹126 crores, helped by other income. By Mar 2024, sales increased to ₹269 crores, and operating profit turned positive (₹5 crores), but the company recorded a small net loss of ₹10 crores due to high taxes.

Here’s the data for Dec 2023, Mar 2024, and Jun 2024, with particulars:

About Kiri Industries 

Kiri Industries is a major company in India that makes and exports dyes, chemicals, and intermediates. Founded in 1998, KIL started its journey with a manufacturing unit in Vatva, Ahmedabad. Over the years, it has grown into a fully integrated business that is known for producing high-quality products. The company has received many awards for its performance and is recognized as a reliable source for textile dyes. KIL follows strict quality control measures and uses modern manufacturing techniques, which helps it provide products that meet international standards. It is also certified with ISO 9001:2008 and is listed on major stock exchanges in India.

In 2007, KIL expanded its operations by building a large facility for making dyestuff intermediates and basic chemicals in Padra, Gujarat. A significant milestone for KIL was acquiring DyStar Group in 2010, a global leader in dyes and performance chemicals. This acquisition made KIL a key player in the global dye market, allowing it to offer comprehensive solutions across various industries, including textiles and automotive. KIL is committed to innovation, sustainability, and providing excellent customer service, making it a prominent name in the dye and chemical industry.