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- MRC Agrotech Q1 Results Revenue Declines to Rs. 273.22 Lakhs, Profit Before Tax Rises to Rs. 7.26 Lakhs
MRC Agrotech Q1 Results Revenue Declines to Rs. 273.22 Lakhs, Profit Before Tax Rises to Rs. 7.26 Lakhs
MRC Agrotech Q1 Results saw a 17.0% YoY drop in total revenue and an 81.3% YoY increase in profit before tax. MRC Agrotech Q1 Results also noted a 66.9% YoY decrease in other income.
by Madhumitha
Updated Sep 05, 2024
Table of Content
MRC Agrotech Q1 Results 2024-2025: MRC Agrotech released their unaudited financial results for the quarter ended June 30, 2024, on August 14, 2024. The company reported a year-over-year (YoY) decline in total revenue by 17.0%, dropping from Rs. 329 lakhs in Q1 2023 to Rs. 273.22 lakhs in Q1 2024.
This decrease was primarily driven by a 22.0% reduction in revenue from operations, falling from Rs. 284 lakhs to Rs. 258.32 lakhs YoY. The company also experienced a decline in other income, which decreased by 66.7% YoY from Rs. 45 lakhs to Rs. 14.90 lakhs.
Despite the overall revenue drop, MRC Agrotech managed to improve its profit before tax, with a 81.3% increase compared to the previous year. The profit before tax for Q1 2024 stood at Rs. 7.26 lakhs, up from Rs. 4 lakhs in Q1 2023.
Additionally, the company's profit for the period increased by 10.0% YoY, from Rs. 20 lakhs in Q1 2023 to Rs. 22 lakhs in Q1 2024. On a quarter-over-quarter (QoQ) basis, the revenue showed a slight decrease of 5.8% from Rs. 290 lakhs in the previous quarter to Rs. 273.22 lakhs.
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MRC Agrotech Q1 Results 2024-2025
MRC Agrotech has released its unaudited financial results for Q1 of the financial year 2024-2025, which ended on 30th June 2024. The results show a year-over-year (YoY) decline in revenue and profits, reflecting the company's performance challenges during the quarter.
| Particulars | Q1 2024 (Unaudited) | Q1 2023 (Unaudited) | Change (YoY) |
|---|---|---|---|
| Revenue from Operations | Rs. 258.32 lakhs | Rs. 284 lakhs | -9.1% |
| Other Income | Rs. 14.90 lakhs | Rs. 45 lakhs | -66.9% |
| Total Revenue | Rs. 273.22 lakhs | Rs. 329 lakhs | -17.0% |
| Total Expenses | Rs. 265.96 lakhs | Rs. 290 lakhs | -8.3% |
| Profit Before Tax | Rs. 7.26 lakhs | Rs. 4 lakhs | +81.3% |
| Profit for the Period | Rs. 20 lakhs | Rs. 18 lakhs | +10.0% |
| Earnings Per Share (Basic) | Rs. 0.004 | Rs. 0.004 | 0% |
| Paid-up Equity Share Capital | Rs. 2,048.74 lakhs | Rs. 2,048.74 lakhs | 0% |
Source: Click Here
MRC Agrotech Current Market Overview
MRC Agrotech's current market situation shows a mixed performance. As of 5th September 2024, the stock price is ₹12.1, down by 2.50%. The company has a market capitalization of ₹24.8 crore, with a 52-week high of ₹16.5 and a low of ₹10.2.
While the stock's book value is ₹13.1, both the Return on Capital Employed (ROCE) and Return on Equity (ROE) are negative, at -0.07% and -2.12% respectively. This suggests the company is struggling to generate profits, and it currently does not pay any dividends.
| Particulars | Details |
|---|---|
| Current Price | ₹12.1 |
| Price Change | -2.50% |
| Market Capitalization | ₹24.8 crore |
| 52-Week High | ₹16.5 |
| 52-Week Low | ₹10.2 |
| Book Value | ₹13.1 |
| Return on Capital Employed (ROCE) | -0.07% |
| Return on Equity (ROE) | -2.12% |
| Face Value | ₹10.0 |
Q1 Results
The table highlights the company's sales, expenses, profits, and other key metrics during these quarters, reflecting fluctuating performance.
| Particulars | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| Sales (₹ Cr) | 5.55 | 2.56 | 2.58 |
| Expenses (₹ Cr) | 5.97 | 2.94 | 2.66 |
| Operating Profit (₹ Cr) | -0.42 | -0.38 | -0.08 |
| OPM (%) | -7.57% | -14.84% | -3.10% |
| Other Income (₹ Cr) | 0.43 | 0.61 | 0.15 |
| Profit Before Tax (₹ Cr) | 0.01 | 0.22 | 0.07 |
| Net Profit (₹ Cr) | 0.01 | 0.16 | 0.07 |
| EPS (₹) | 0.01 | 0.15 | 0.03 |
About MRC Agrotech
MRC Agrotech is a technology-driven company that was incorporated in 2015. It specializes in the trading of agricultural commodities, offering a wide range of products including cereals, pulses, oils, oil seeds, fibers, spices, and the guar complex. The company operates through a modern trading platform that caters to various segments of the agriculture market.
In addition to commodity trading, MRC Agrotech also provides warehousing services with a storage capacity of around 30,000 metric tons across four warehouses located in Madhya Pradesh. The company aims to streamline the agricultural trading process by combining technology with deep industry knowledge.
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MRC Agrotech Q1 Results- FAQs
1. What was MRC Agrotech’s total revenue for Q1 2024?
MRC Agrotech's total revenue for Q1 2024 was Rs. 273.22 lakhs.
2. How much did MRC Agrotech’s revenue decrease in Q1 2024 compared to Q1 2023?
MRC Agrotech’s revenue decreased by Rs. 55.78 lakhs from Q1 2023 to Q1 2024.
3. What was the profit before tax for MRC Agrotech in Q1 2024?
The profit before tax for MRC Agrotech in Q1 2024 was Rs. 7.26 lakhs.
4. How did MRC Agrotech’s profit before tax change from Q1 2023 to Q1 2024?
MRC Agrotech’s profit before tax increased from Rs. 4 lakhs in Q1 2023 to Rs. 7.26 lakhs in Q1 2024.
5. What was the value of MRC Agrotech’s other income in Q1 2024?
MRC Agrotech’s other income in Q1 2024 was Rs. 14.90 lakhs.
6. By how much did MRC Agrotech’s other income decrease in Q1 2024 compared to Q1 2023?
MRC Agrotech’s other income decreased by Rs. 30.10 lakhs from Q1 2023 to Q1 2024.
7. What were MRC Agrotech’s total expenses for Q1 2024?
MRC Agrotech’s total expenses for Q1 2024 were Rs. 265.96 lakhs.
8. How did the total expenses of MRC Agrotech in Q1 2024 compare to Q1 2023?
MRC Agrotech’s total expenses decreased from Rs. 290 lakhs in Q1 2023 to Rs. 265.96 lakhs in Q1 2024.
9. What was the profit for the period for MRC Agrotech in Q1 2024?
The profit for the period for MRC Agrotech in Q1 2024 was Rs. 20 lakhs.
10. How did the profit for the period of MRC Agrotech in Q1 2024 compare to Q1 2023?
MRC Agrotech’s profit for the period increased from Rs. 18 lakhs in Q1 2023 to Rs. 20 lakhs in Q1 2024.