Nitta Gelatin India Q1 Results with Total Income ₹134.61 Crores & Operating Income ₹24.56 Crores

Nitta Gelatin India Q1 Results: Nitta Gelatin India’s Q1 results for June 2024 show mixed performance when compared year-over-year (YoY) and quarter-on-quarter (QoQ). The company’s total revenue for Q1 2024 was ₹134.61 crores, which increased by 4.93% YoY compared to ₹128.29 crores in Q1 2023. However, revenue declined by 3.23% QoQ when compared to ₹145.62 crores in Q4 2023.

Nitta Gelatin India’s selling, general, and administrative costs dropped by 13.43% YoY, showing better cost control as they were ₹11.55 crores in Q1 2024, compared to ₹13.34 crores in Q1 2023. QoQ, these expenses also saw a decline of 9.20%. Operating expenses were up by 18.10% YoY, reaching ₹110.05 crores, but decreased 10.84% QoQ from the previous quarter.

Nitta Gelatin India’s Operating income, a key performance indicator, fell by 30.04% YoY, dropping from ₹35.11 crores in Q1 2023 to ₹24.56 crores in Q1 2024. However, it increased by 10.74% QoQ, showing some improvement in short-term performance.

Nitta Gelatin India’s Net income saw a 28.58% YoY drop, from ₹27.53 crores in Q1 2023 to ₹19.66 crores in Q1 2024, despite a 21.51% QoQ increase. Earnings per share (EPS) also showed a YoY decline of 28.56%, signaling the company faces challenges despite some QoQ improvements.

Here is a simplified breakdown of Nitta Gelatin India's Q1 results for 2024, compared to the previous quarter (Q4 2023) and the same quarter last year (Q1 2023). 

(All figures in crores except per share values)

Source: Here 

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Nitta Gelatin India Q1 Results

Nitta Gelatin India's financial results for the quarter ending June 30, 2024, show a strong performance. The company's revenue from operations was ₹13,133.04 lakhs, which is an increase from the previous quarter’s ₹11,512.77 lakhs. This shows growth in business activity. In addition to operational revenue, Nitta Gelatin also earned other income of ₹211.92 lakhs. This brought the total income to ₹13,344.96 lakhs, higher than the previous quarter’s ₹11,997.81 lakhs.

On the expense side, Nitta Gelatin India's cost of materials consumed was ₹6,070.57 lakhs, which is slightly higher compared to the previous quarter. Other significant costs included employee benefits, finance costs, and depreciation, which together amounted to over ₹1,500 lakhs. Overall, the company's total expenses were ₹10,749.97 lakhs, leaving a profit before tax of ₹2,594.99 lakhs.

Nitta Gelatin India's After accounting for taxes, the net profit for the quarter was ₹1,923.55 lakhs. There was a small other comprehensive income of ₹15.97 lakhs, which slightly improved the overall total comprehensive income to ₹1,939.52 lakhs.

Nitta Gelatin India's earnings per share (EPS) for this quarter was ₹21.19, reflecting the company's profitability. Overall, the results show that Nitta Gelatin India is in a good financial position, with strong revenue and profit growth compared to the previous periods.

Here’s a summary of Nitta Gelatin India's standalone unaudited financial results for the quarter ended June 30, 2024, presented in table format:

(₹ in Lakhs)

Nitta Gelatin India Stock Metrics 

The table shows the financial details of Nitta Gelatin India. The Market Cap of ₹757 crore represents the total value of all its shares. The Current Price of ₹834 is what investors pay for one share. The High/Low values of ₹1,184 and ₹733 show the highest and lowest prices the stock has reached recently. The Stock P/E ratio of 10.2 indicates how the stock price compares to its earnings. Book Value of ₹378 is the company's net worth per share. 

Here's the information in table format:

Quarterly Results 

In the quarterly financial results for Nitta Gelatin India, the company had a mixed performance from December 2023 to June 2024. In December 2023, they earned ₹134 crores in sales but spent ₹102 crores, leading to an operating profit of ₹32 crores and a profit before tax of ₹29 crores. Their net profit was ₹21 crores. By March 2024, sales dropped slightly to ₹130 crores, expenses increased to ₹110 crores, and operating profit fell to ₹20 crores. 

(Consolidated Figures in Rs. Crores)

About Nitta Gelatin India 

Nitta Gelatin India is a company that started operations in India in 1975, thanks to a partnership between Nitta Gelatin from Japan and the Kerala State Industrial Development Corporation. This collaboration introduced advanced technology and skilled workers to the Indian industrial scene, setting new standards for the industry. 

Nitta Gelatin India produces a wide range of products, including gelatin for use in medicines and food, di-calcium phosphate as a poultry feed ingredient, and ossein and chitosan for various agricultural and industrial applications. More than 60% of their products are exported to over 35 countries, including major markets like Japan, the USA, Canada, and European Union countries.

Gelatin, a key product of Nitta Gelatin India, is essential in many areas of human life, from childhood through adulthood. It is used in drug delivery systems like capsules and tablets and in various food products such as candies, desserts, and beverages. In 2009, NGIL expanded its offerings by starting the production of collagen peptides, marketed under the brand “Wellnex.”

These peptides are used for health benefits like improving bone and joint health, skin health, and wound healing. NGIL has also developed bioactive peptides that help manage diabetes by inhibiting certain enzymes, showcasing their commitment to health and innovation.