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Prakash Steelage Q1 Results Revenue Declines to ₹1,676.98 Lakhs and Net Profit Falls to ₹8.50 Lakhs

Prakash Steelage's Q1 Results show a 42.25% YoY drop in revenue to ₹1,676.98 lakhs and a 99.60% YoY decline in net profit to ₹8.50 lakhs. Prakash Steelage's Q1 Results also include a 35.89% YoY decrease in total income to ₹3,149.51 lakhs.

by Madhumitha

Updated Sep 04, 2024

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Prakash Steelage Q1 Results Revenue Declines to ₹1,676.98 Lakhs and Net Profit Falls to ₹8.50 Lakhs

Prakash Steelage Q1 Results 2024-2025: Prakash Steelage declared its Q1 results on 13 August 2024, showcasing a mixed performance. The company's revenue from operations for the quarter ended 30 June 2024 stood at ₹1,676.98 lakhs, representing a 42.25% year-over-year decline from ₹2,903.74 lakhs in the corresponding quarter of the previous year.

The total income also dropped by 35.89% YoY, from ₹4,915.59 lakhs in Q1 FY2023-2024 to ₹3,149.51 lakhs this quarter. Despite the decline in revenue, Prakash Steelage reported a modest profit before tax of ₹13.43 lakhs, although this is a significant decrease compared to the ₹2,108.75 lakhs profit reported in Q1 of the previous fiscal year.

The company's expenses also saw a notable decrease, with the total expenses reducing to ₹1,755.09 lakhs, down 37.48% YoY from ₹2,806.84 lakhs in the same period last year. However, despite tighter cost controls, Prakash Steelage's net profit after tax for the quarter was ₹8.50 lakhs, a sharp fall of 99.60% compared to ₹2,102.32 lakhs in Q1 FY2023-2024.

This decline was partly due to lower revenue and the impact of prior period adjustments. The earnings per share (EPS) for the quarter were almost flat at ₹0.00, reflecting the challenging environment faced by the company during this period.

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Prakash Steelage Q1 Results 2024-2025

Prakash Steelage has released its Q1 results for the financial year 2024-2025, highlighting a notable decline in both revenue and profit compared to the previous year. The company experienced significant challenges, with a sharp reduction in overall income and net profit. Below is a summary of the key financial figures for Q1 FY2024-2025:

Particulars Q1 FY2024-2025 Q1 FY2023-2024 YoY Change
Revenue from Operations (₹ in lakhs) 1,676.98 2,903.74 -42.25%
Other Income (₹ in lakhs) 91.53 2,011.85 -95.45%
Total Income (₹ in lakhs) 3,149.51 4,915.59 -35.89%
Cost of Materials Consumed (₹ in lakhs) 1,567.10 1,720.94 -8.94%
Employee Benefits Expense (₹ in lakhs) 92.36 76.79 +20.28%
Depreciation and Amortization (₹ in lakhs) 20.26 20.27 -0.05%
Finance Costs (₹ in lakhs) 0.79 4.45 -82.02%
Total Expenses (₹ in lakhs) 1,755.09 2,806.84 -37.48%
Profit Before Tax (₹ in lakhs) 13.43 2,108.75 -99.36%
Net Profit After Tax (₹ in lakhs) 8.50 2,102.32 -99.60%
Earnings Per Share (₹) 0.00 1.20 -100%
Paid-up Equity Share Capital (₹ in lakhs) 1,750.00 1,750.00 0.00%
Other Equity (₹ in lakhs) (970.52) (4,663.54) +79.19%

Source: Click Here.

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Prakash Steelage Current Market Overview

Prakash Steelage is currently trading at ₹9.19 per share, reflecting a decrease of 2.03%. The company has a market capitalization of ₹161 crore. Over the past year, the stock has seen a high of ₹16.6 and a low of ₹4.90. The stock's price-to-earnings (P/E) ratio stands at 62.8, indicating a high valuation relative to its earnings.

The book value of the stock is ₹0.44, and it offers no dividend yield. Despite its challenges, Prakash Steelage remains a significant player in the steel industry, though its financial metrics suggest a cautious outlook.

Metric Value
Current Price ₹9.19
Change -2.03%
Market Cap ₹161 Cr.
52-Week High ₹16.6
52-Week Low ₹4.90
Book Value ₹0.44
Dividend Yield 0.00%
Face Value ₹1.00
BSE Code 533239
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Q1 Results

Here are Prakash Steelage's quarterly results for the most recent quarters, providing insights into their financial performance over the last three periods:

Metric Dec 2023 Mar 2024 Jun 2024
Sales (₹ Crores) 25.86 25.73 16.77
Expenses (₹ Crores) 24.58 25.68 17.34
Operating Profit (₹ Crores) 1.28 0.05 -0.57
Operating Profit Margin (OPM) 4.95% 0.19% -3.40%
Other Income (₹ Crores) 0.05 35.59 0.92
Interest (₹ Crores) 0.07 0.03 0.01
Depreciation (₹ Crores) 0.22 0.23 0.20
Profit Before Tax (₹ Crores) 1.04 35.38 0.14
Tax % 2.88% 0.90% 35.71%
Net Profit (₹ Crores) 1.01 35.06 0.09
EPS (₹) 0.06 2.00 0.01
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About Prakash Steelage

Prakash Steelage is a prominent company specializing in stainless steel solutions, offering a wide range of products like pipes and tubes. Known for its commitment to quality and innovation, the company serves industries around the world with precision-engineered steel products.

Prakash Steelage takes pride in its advanced manufacturing processes and focuses on customer satisfaction while also engaging in responsible practices that benefit the environment and communities. Its dedication to excellence and continuous improvement has established it as a leader in the global steel industry.

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Prakash Steelage Q1 Results- FAQs

1. What is Prakash Steelage’s revenue from operations for Q1 FY2024-2025?

Prakash Steelage’s revenue from operations for Q1 FY2024-2025 is ₹1,676.98 lakhs.

2. When did Prakash Steelage declare its Q1 results for 2024-2025?

Prakash Steelage declared its Q1 results on 13 August 2024.

3. What was the net profit after tax for Prakash Steelage in Q1 FY2024-2025?

The net profit after tax for Prakash Steelage in Q1 FY2024-2025 was ₹8.50 lakhs.

4. What is the total income for Prakash Steelage in Q1 FY2024-2025?

The total income for Prakash Steelage in Q1 FY2024-2025 is ₹3,149.51 lakhs.

5. How much did Prakash Steelage’s total expenses decrease by in Q1 FY2024-2025?

Prakash Steelage’s total expenses decreased to ₹1,755.09 lakhs in Q1 FY2024-2025.

6. What was the profit before tax for Prakash Steelage in Q1 FY2024-2025?

The profit before tax for Prakash Steelage in Q1 FY2024-2025 was ₹13.43 lakhs.

7. What was Prakash Steelage’s revenue from operations in Q1 FY2023-2024?

Prakash Steelage’s revenue from operations in Q1 FY2023-2024 was ₹2,903.74 lakhs.

8. How much did Prakash Steelage’s net profit after tax fall by in Q1 FY2024-2025?

Prakash Steelage’s net profit after tax fell to ₹8.50 lakhs in Q1 FY2024-2025.

9. What was the other income for Prakash Steelage in Q1 FY2024-2025?

The other income for Prakash Steelage in Q1 FY2024-2025 was ₹91.53 lakhs.

10. What was Prakash Steelage’s total income in Q1 FY2023-2024?

Prakash Steelage’s total income in Q1 FY2023-2024 was ₹4,915.59 lakhs.

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