Panyam Cements & Mineral Industries Q1 Results Faced Loss with Total Revenue of ₹31.75 crores & Operating Loss ₹14.82 crores

Panyam Cements & Mineral Industries Q1 Results: Panyam Cements & Mineral Industries recently released its financial results for the first quarter (Q1) of the fiscal year ending June 2024. In this quarter, the company reported a total revenue of ₹31.75 crores, which shows a remarkable year-over-year (YoY) increase of 114.80% compared to ₹14.78 crores in the same quarter last year. However, when looking at the quarter-on-quarter (QoQ) performance, the revenue decreased by 19.22% from ₹2.70 crores in the previous quarter. The selling, general, and administrative expenses were ₹27.48 crores, a significant increase YoY from ₹13.18 crores, which is 108.44% higher. But compared to the previous quarter, these expenses decreased by 13.51% from ₹2.05 crores.

Panyam Cements & Mineral Industries also reported depreciation and amortization costs of ₹4.01 crores, up 23.81% YoY from ₹3.24 crores. However, these costs dropped by 13.51% QoQ from ₹1.34 crores. Despite the YoY revenue growth, the company faced an operating loss of ₹14.82 crores, improving by 20.70% QoQ but still negative. Overall, while Panyam Cements has shown YoY growth, the QoQ comparisons highlight ongoing challenges in managing costs and profitability.

Here’s a summary of Panyam Cements & Mineral Industries' Q1 results presented in a simple and clear format:

(in Crores)

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Panyam Cements & Mineral Industries Q1 Results

Panyam Cements & Mineral Industries has shared its financial results for the quarter ending on June 30, 2024. The company earned ₹3,175.47 lakhs from its operations, which is an increase compared to ₹1,478.33 lakhs from the same quarter last year, but lower than the ₹3,931.11 lakhs from the previous quarter. They also made ₹23.55 lakhs from other sources, adding up to a total revenue of ₹3,199.01 lakhs for this quarter. However, their expenses were much higher, totaling ₹5,004.31 lakhs. Major costs included ₹747.44 lakhs for materials, ₹2,517.50 lakhs for power and fuel, and ₹1,101.70 lakhs for other expenses. This led to a loss of ₹1,805.29 lakhs before tax. After accounting for taxes, the total loss increased to ₹4,805.29 lakhs.

In terms of overall performance, Panyam Cements & Mineral Industries’ total comprehensive income for this quarter was a loss of ₹1,804.93 lakhs. The equity share capital remained unchanged at ₹802.14 lakhs, but the company’s other equity significantly decreased to a negative ₹19,532.41 lakhs. Overall, these results show that while revenue increased compared to last year, high expenses contributed to a large loss for the company this quarter.

Here’s a simplified summary of the un-audited financial results for Panyam Cements & Mineral Industries Limited for the quarter ended June 30, 2024:

Panyam Cements & Mineral Industries Stock Metrics

Panyam Cements & Mineral Industries is a company in the cement industry. The table shows important financial information about the company. Its market capitalization is ₹131 crores, meaning that’s the total value of all its shares. The current price of its stock is ₹164. The stock reached a high of ₹263 and a low of ₹11.3 over a specific period. The book value is negative at ₹-211, indicating the company owes more than its assets are worth.

Here’s a summary of the stock information you provided:

Quarterly Results 

Panyam Cements & Mineral Industries reported financial results for December 2023, March 2024, and June 2024. In December 2023, the company achieved sales of ₹46 crores but faced high expenses of ₹54 crores, resulting in an operating loss of ₹8 crores. The situation remained similar in March 2024, with sales decreasing to ₹39 crores and expenses slightly lower at ₹47 crores, leading to another operating loss of ₹8 crores. By June 2024, sales further declined to ₹32 crores, while expenses dropped to ₹43 crores.

Here are the quarterly results for December 2023, March 2024, and June 2024:

(Figures in Rs. Crores)

About Panyam Cements & Mineral Industries 

Panyam Cements & Mineral Industries is a well-known cement company in India, established in 1955 in the Kurnool District of Rayalaseema, a region that needed economic development. Over the years, it has grown to become one of the largest cement manufacturing units in South India. In 2005, the company was taken over by the Nandi Group of Companies, led by Sri S.P.Y. Reddy, who focused on modernizing the plant. Panyam Cements started producing 200 metric tons of cement per day and increased its capacity to 2,300 tons per day after improvements.

Panyam Cements & Mineral Industries has a strong reputation for quality and has contributed to major projects like dams and buildings across India. It was the first in India to supply cement for concrete railway sleepers, which helped reduce the use of wood. Today, Panyam Cements mainly serves the Rayalaseema region and parts of neighboring states.