Meera Industries Q1 Results Total Revenue ₹9.91 crores & Net Income ₹0.90 crores

Meera Industries Q1 Results: Meera Industries reported strong financial results for Q1 of 2024, showing impressive growth in several areas compared to the same quarter last year. The total revenue for June 2024 was ₹9.91 crores, which is a significant increase of 61.04% year-over-year (YoY) from ₹6.15 crores in June 2023. This shows how well the company has performed over the past year. The operating income also improved greatly, reaching ₹0.87 crores, compared to a loss of ₹0.48 crores in March 2023, reflecting a positive quarter-on-quarter (QoQ) change of 44.25%.

Meera Industries reported Net Income ₹0.90 crores, up from just ₹0.08 crores a year ago, marking a remarkable YoY increase of 989.14%. This growth indicates a strong turnaround in profitability for the company. The diluted normalized EPS was ₹0.85, which shows a 962.50% YoY rise compared to ₹0.08 in the same quarter last year. Additionally, while some expenses increased, the overall financial health of Meera Industries looks promising, with solid year-over-year growth that outpaces previous quarters.

Here are the quarterly results for Meera Industries for Q1:

(All figures in crores except per share values)

Source: Here 

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Meera Industries Q1 Results

Meera Industries released its financial results for the quarter ending June 30, 2024. In this quarter, the company earned ₹997.99 lakhs from its operations, which is much higher than the ₹615.67 lakhs it earned in the same quarter last year. This increase shows that the company is growing and making more money.

The total expenses for this quarter were ₹907.65 lakhs. This includes costs for materials, employee salaries, and other operational expenses. When the expenses are subtracted from the total income, the company made a profit before tax of ₹90.34 lakhs, compared to just ₹18.54 lakhs in the same quarter last year. This means the company is doing better financially.

After accounting for taxes, the profit after tax was ₹90.28 lakhs. The company also reported a small amount of other comprehensive income, leading to a total comprehensive income of ₹90.38 lakhs. The earnings per share (EPS) for this quarter is ₹0.85, which is an improvement from ₹0.08 in the previous year. 

Here’s a summary of the consolidated unaudited financial results for the quarter ended June 30, 2024:

(Amount in Lakhs)

Meera Industries Financial Metrics

Meera Industries is a company with a market cap of ₹66.2 crore, meaning this is its total value in the stock market. Its current stock price is ₹62.0. The highest price it reached was ₹72.0, while the lowest was ₹35.0. The stock price-to-earnings (P/E) ratio is 29.2, which shows how much investors are willing to pay for each unit of profit. The book value is ₹24.1, representing the company's net worth per share. It offers a dividend yield of 0.81%, providing some return to shareholders. 

Here’s the financial information you provided, organized in a table format:

Quarterly Results 

In the quarters of December 2023, March 2024, and June 2024, Meera Industries showed positive growth in its financial performance. Sales increased from ₹7.61 crores in December to ₹9.91 crores in June, indicating strong demand for its products. Expenses also rose but at a slower pace, from ₹6.76 crores to ₹8.73 crores. The operating profit improved steadily, reaching ₹1.18 crores by June, suggesting better efficiency and management. 

Here's the data for the quarters Dec 2023, Mar 2024, and Jun 2024:

(Rs. Crores)

About Meera Industries 

Meera Industries is an ISO 9001 certified company that specializes in textile twisting technology and machinery. Based in India, it has adapted to the changing textile industry and has become a leader in producing high-quality products for both national and international markets. The company has extensive experience in making TFO twisting yarns and is known for its user-friendly and innovative textile products.

Meera Industries believes that its greatest asset is its people. The company has a dedicated team with a lot of experience, which helps improve the manufacturing and production processes. They focus on innovation through continuous research, developing advanced textile machinery that provides reliable and efficient solutions.

With a strong global presence, Meera Industries exports its machines to over 20 countries, including the USA, South Africa, Europe, Africa, and Asia. The company has received several awards for its research and development efforts, recognizing its commitment to creating high-quality and environmentally friendly textile machinery. This focus on quality and innovation allows Meera Industries to contribute to energy savings and process optimization in the textile sector, solidifying its reputation as a key player in the industry.