Peria Karamalai Tea and Produce Company Ltd Q1 Results Total Income ₹11.61 Crore & Operating Profit ₹2.87 Crore

Peria Karamalai Tea and Produce Company Growth Overview 

Peria Karamalai Tea and Produce Company Q1 Results: In the first quarter of June 2024, The Peria Karamalai Tea and Produce Company showed several key changes in their financial results compared to previous periods. The company’s total revenue slightly increased by 0.10% from the previous quarter (QoQ) and by 4.59% year-over-year (YoY). 

Peria Karamalai Tea and Produce Company’s Selling, general, and administrative expenses dropped by 17.04% QoQ and 14.85% YoY, showing a significant reduction in costs. Depreciation and amortization expenses went up by 31.85% quarter-on-quarter but decreased by 36.39% YoY. Other operating expenses also fell by 25.63% QoQ and 23.29% YoY. Overall, total operating expenses decreased by 24.98% compared to the previous quarter and slightly increased by 4.24% YoY. The company improved its operating income from a loss in the previous quarter to a profit, with a 5.67% increase YoY.

Peria Karamalai Tea and Produce Company’s Net income before taxes was better than the previous quarter, though it fell by 45.94% QoQ. On a YoY basis, net income improved by 5.48%. Net income overall increased by 32.97% YoY, and the diluted normalized EPS, a key indicator of profitability, showed a positive shift, increasing by 32.91% YoY. This demonstrates a positive trend year-over-year despite some fluctuations quarter-on-quarter.

Here is a simplified summary of The Peria Karamalai Tea & Produce Company’s Q1 financial results for June 2024:

(in crores)

Source: Here 

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Peria Karamalai Tea and Produce Company Q1 Results

The financial results for Peria Karamalai Tea and Produce Company for the quarter ending on June 30, 2024, show a detailed overview of their financial performance. In this quarter, the company's revenue from operations was 1,161.17 lakhs, which is slightly higher than the 1,110.22 lakhs reported in the same quarter last year but almost the same as the previous quarter's 1,160.03 lakhs. 

Peria Karamalai Tea and Produce Company also earned 11.42 lakhs from other income sources, a significant decrease from 520.77 lakhs in the previous quarter but a bit higher than 14.90 lakhs from the same quarter last year. This brought their total income for the quarter to 1,172.59 lakhs, which is lower compared to the 1,680.80 lakhs from the previous quarter but higher than 1,125.12 lakhs from the same quarter last year.

On the expense side, Peria Karamalai Tea and Produce Company spent 924.66 lakhs, which is lower than the 1,222.22 lakhs spent in the previous quarter and 889.75 lakhs from the same quarter last year. Major expenses include costs for materials, stock purchases, employee benefits, and finance costs. The company made a net profit of 260.00 lakhs after tax, which is a significant improvement from 195.84 lakhs in the same quarter last year and slightly better than 368.53 lakhs in the previous quarter. 

Peria Karamalai Tea and Produce Company’s total comprehensive income, which includes other income items, was 273.40 lakhs, reflecting a strong financial position despite lower overall income compared to previous periods. The earnings per share for this quarter were 8.40 rupees, consistent with the previous quarter and a notable increase from 6.33 rupees in the same quarter last year.

Here's a simplified table based on the information provided for the quarter ended June 30, 2024, and the previous periods:

(Rupees in Lakhs)

Peria Karamalai Tea and Produce Company Financial Performance

Peria Karamalai Tea and Produce Company has a market value of ₹128 Crores, which is the total worth of all its shares. The current price of its stock is ₹415. Over the past period, the stock reached a high of ₹525 and a low of ₹262. The Price-to-Earnings (P/E) ratio is 24.1, indicating how much investors are willing to pay for each unit of earnings. The book value, which is the company's value per share, is ₹618. The dividend yield is 0.12%, showing the return on investment from dividends.

Here's the information in a table format:

About Peria Karamalai Tea and Produce Company 

Peria Karamalai Tea and Produce Company, established in 1913, is one of the oldest tea manufacturers and spice cultivators in India. Located in Valparai, Tamil Nadu, the company’s tea gardens sit at an altitude of 1400 to 1650 meters above sea level, which is ideal for growing high-quality tea. The company operates two factories and four tea gardens named Karamalai, Akkamalai, Vellamalai, and Nadumalai, covering a total area of 6000 acres. They produce about 5 million kilograms of tea annually, with 1 million kilograms being the premium Orthodox variety, known for its exceptional quality from high-grown fields.

The tea gardens are certified by TrustTea and RFA, ensuring high standards of quality. The company also has a modern blending unit in Pollachi with a capacity of 2 tonnes per hour, certified by HACCP and FSSAI. In addition to tea, Peria Karamalai grows spices organically on a 100-acre farm. They cultivate Karimunda black pepper, Chandragiri S9 Arabica coffee, cinnamon, and avocados. This spice farm is certified organic by the Tamil Nadu Organic Certification Department (TNOCD), highlighting the company's commitment to high-quality, sustainable practices.