Majestic Auto Q1 Results Revenue Up 3.49% QoQ and 20.53% YoY

Majestic Auto Quarterly Growth Comparison

Majestic Auto Q1 Results: In the first quarter of fiscal year 2024, Majestic Auto reported several key financial results. The company’s total revenue was ₹16.06 crores, up by 3.49% from the previous quarter and up 20.53% from the same quarter last year. This means the company earned more money compared to both the last quarter and the same period a year ago.

Majestic Auto’s Expenses for selling, general, and administrative costs increased slightly by 0.73% from the previous quarter and 4.44% from a year ago, reaching ₹1.62 crores. Depreciation and amortization costs were ₹2.25 crores, which is a small increase from both the last quarter and the previous year.

Majestic Auto’s Other operating expenses surged by 73.94% from the last quarter and 24.47% year-over-year, totaling ₹4.74 crores. This contributed to a higher total operating expense of ₹11.44 crores, up 33.85% from the previous quarter and 15.46% from the same period last year.

Majestic Auto’s Operating income dropped by 33.70% from the last quarter but increased by 35.24% from a year ago, reaching ₹4.62 crores. Despite this, net income before taxes rose significantly by 296.32% from the previous year, totaling ₹14.61 crores. Net income improved dramatically, reaching ₹10.07 crores from a loss of ₹0.74 crores in the previous quarter, and up 322.35% from the same period last year. The diluted normalized earnings per share (EPS) also showed a major improvement, reaching ₹9.94 from a negative value last quarter, and up 314.17% year-over-year.

Here are the Q1 financial results for Majestic Auto:

(All figures in crores except per share values)

Source: Here 

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Majestic Auto Q1 Results

Majestic Auto reported their financial results for the quarter ending on June 30, 2024. Their total income for this period was ₹1,849.48 lakhs, which includes revenue from their main operations (₹615.69 lakhs) and other income (₹1,233.79 lakhs). The company’s total expenses amounted to ₹684.47 lakhs. This includes costs related to their products and services, employee salaries, finance costs, depreciation, and other expenses.

After subtracting these expenses from the total income, Majestic Auto had a profit of ₹1,165.01 lakhs before considering any special items or taxes. When accounting for exceptional items (₹116.33 lakhs), the profit before tax was ₹1,339.84 lakhs. The company then paid a total tax of ₹600.11 lakhs, which includes current tax, deferred tax, and adjustments for previous years. After-tax, the company made a net profit of ₹531.46 lakhs

Majestic Auto reported other comprehensive income of ₹7.78 lakhs, bringing the total comprehensive income for the quarter to ₹7.78 lakhs. Majestic Auto’s paid-up equity share capital remains at ₹1,039.82 lakhs, and the earnings per share, both basic and diluted, are ₹0.13. This summary shows how Majestic Auto performed financially over this quarter.

Here's a simplified summary of the financial results for Majestic Auto for the quarter ended 30 June 2024:

Majestic Auto Financial Metrics

Majestic Auto’s financial table shows various details about its stock. The market capitalization is ₹472 crore, which means this is the total value of all its shares combined. The current stock price is ₹453. The stock has reached a high of ₹476 and a low of ₹167 in the past. The price-to-earnings ratio (P/E) is 11.8, indicating how much investors are willing to pay for each rupee of earnings. 

Here's the information in a table format:

Quarterly Results 

Majestic Auto's quarterly financial summary for December 2023, March 2024, and June 2024 shows varied performance. In December 2023, the company reported sales of Rs. 15 crores with an operating profit of Rs. 8 crores and an operating profit margin (OPM) of 57%. The net profit was Rs. 8 crores. 

Here is the quarterly financial summary for December 2023, March 2024, and June 2024:

(Consolidated Figures in Rs. Crores)

About Majestic Auto 

Majestic Auto began as "Majestic Gears (P)" on April 23, 1973, focusing on making bicycle parts for Hero Cycles. Founded by Sh. Satyanand Munjal, Sh. Brijmohan Lall Munjal, and Sh. Om Parkash Munjal, it was part of the Hero group. The company became a public entity on April 2, 1977, and changed its name to Majestic Auto.

In 1978, MAL started producing 49CC mopeds under the brand "HERO MAJESTIC" and quickly became the largest moped manufacturer in India. By 1999, MAL diversified into making fine-blanked components for major automobile companies like Maruti, Tata Motors, and Ford. They also launched a 4-stroke moped in 2002 and produced parts for motorcycles and electrical motors.

In 2015, MAL shifted its focus from manufacturing to real estate and facility management. They acquired Emirates Technologies Private, also known as Knowledge Boulevard, in Noida, which has a large office space. By 2017, the company fully concentrated on real estate and facility management. Today, MAL has a subsidiary, Majestic IT Services, and its shares are listed on the Bombay Stock Exchange.