Nitiraj Engineers Q1 Results Revenue ₹426.99M & Net Loss ₹164.81M

For the quarter ending June 30, 2024, Nitiraj Engineers reported a decrease in revenue compared to previous periods. The company earned ₹426.99 million in revenue from operations, which is significantly lower than the ₹5,257.58 million reported for the quarter ending March 31, 2024.

This drop in revenue is notable, given that the previous year’s same quarter also saw a higher revenue of ₹1,170.68 million. Alongside revenue, the company’s other income was ₹26.47 million, which is less compared to ₹50.13 million in the previous quarter but slightly higher than ₹22.89 million from the same quarter last year.

Total income for the quarter was ₹453.46 million, showing a sharp decline from ₹5,307.71 million in the previous quarter and ₹1,193.57 million in the same quarter of the previous year. On the expense side, the cost of materials consumed rose to ₹556.00 million, compared to ₹2,716.10 million previously and ₹619.17 million last year. Changes in inventories were negative, at (₹421.11) million, indicating a reduction in inventory. 

Total expenses for the quarter were ₹673.70 million, up from ₹4,316.73 million in the previous quarter. This resulted in a loss before tax of (₹220.24) million, a significant downturn from a profit of ₹990.98 million in the previous quarter. After accounting for tax expenses, the net loss for the quarter was (₹164.81) million, which is a reversal from a profit of ₹741.57 million in the last quarter.

Source: Here 

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Nitiraj Engineers Q1 Results

Nitiraj Engineers faced a challenging period with decreased revenues and increased expenses, resulting in a net loss for the quarter ended June 30, 2024.

Here are the Results in table format: 

Nitiraj Engineers Financial Metricks 

Nitiraj Engineers has a market capitalization of ₹251 Crore, meaning the total value of all its shares is this amount. The current stock price is ₹245. The highest price the stock has reached is ₹303, and the lowest is ₹97.8. The stock's Price-to-Earnings (P/E) ratio is 26.4, which helps investors understand how much they are paying for each unit of earnings. 

Here is the information in a table format:

Quarterly Results 

The Nitiraj Engineers table shows financial data over three periods: December 2023, March 2024, and June 2024. Sales increased from 20.25 in December to 52.58 in March but dropped sharply to 4.27 in June. Expenses followed a similar pattern, rising to 42.32 in March and falling to 5.89 in June. 

About Nitiraj Engineers 

Nitiraj Engineers is a well-established company specializing in electronic weighing scales and systems, with a strong reputation in the industry. Founded in 1989, the company operates under the brand name PHOENIX and is known for its high-quality products. They manufacture not only electronic weighing scales but also currency counting machines and various security and automation products.

Nitiraj Engineers takes pride in its commitment to quality and affordability, encapsulated in their motto, "Quality product at reasonable price." The company boasts a sophisticated manufacturing facility in India, featuring state-of-the-art equipment like PCB assembly lines and SMT machines, which helps them meet market demands efficiently.

Nitiraj Engineers’s products adhere to high standards, confirmed by certifications including ISO 9001:2015 and a BIS Certificate (ISI Mark). They also have model approval from the Legal Metrology Department of the Government of India. Nitiraj Engineers is listed on the National Stock Exchange of India and has a significant production capacity of over 100,000 scales per year.

With a team of over 250 professionals and more than 1,000,000 satisfied customers, the company has a broad sales and service network across India and in the Middle East, SAARC, and African countries. Their focus on 'Make in India' ensures that all products are designed, developed, and manufactured locally.