Pressure Sensitive Systems Q1 Results Revenue Falls 98.38% QoQ and 98.81% YoY

Pressure Sensitive Systems Q1 Results: Pressure Sensitive Systems India reported a major drop in its financial performance in the first quarter of June 2024, compared to the previous quarter (March 2023) and the same quarter last year (June 2023). The company’s total revenue fell drastically to ₹1.15 crores from ₹41.09 crores in the previous quarter, marking a 98.38% decrease. Year-over-year, the revenue decreased by 98.81%, from ₹96.21 crores.

Pressure Sensitive Systems’ Expenses related to selling, general, and administrative costs increased slightly by 25% from ₹0.08 crores to ₹0.10 crores compared to the last quarter, and by 52.46% compared to the same quarter last year. Depreciation and amortization costs remained very low, with only a minor increase from ₹0.00 crores to ₹0.01 crores. There were no other operating expenses in this quarter, unlike the negative amount reported in the same quarter last year.

Pressure Sensitive Systems’ total operating expenses dropped by 98.59% from ₹2.40 crores in the last quarter to ₹0.57 crores. Operating income also saw a sharp decline of 98.09%, falling to ₹0.58 crores. Net income, both before taxes and the final figure, plummeted by 99.99%, reaching ₹0.00 crores. The diluted normalized EPS also dropped by 99.99%, indicating a significant financial downturn for the company.

Here’s a summary of the Pressure Sensitive Systems India Q1 results, with all figures in crores:

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results

Pressure Sensitive Systems Q1 Results

Here is a summary of the unaudited standalone financial results for Pressure Sensitive Systems (India) for the quarter ending June 30, 2024:

Pressure Sensitive Systems shows the financial performance for the quarter ending June 30, 2024. For this quarter, the company did not report any revenue from operations. Instead, it had some other income amounting to 1,225. The total income, combining all sources, was 1,225. The company's expenses included purchases, changes in stock, employee benefits, finance costs, and other expenses. However, specific details for purchases, stock changes, and employee benefits are not provided.

Pressure Sensitive Systems reported other expenses of 1,043 for the quarter. This resulted in a loss of 1,043 before considering exceptional items and taxes. After accounting for all expenses and before taxes, the company had a loss of 10.43. There were no exceptional items reported. After taxes, the company’s loss remained at 10.43.

For comprehensive income, Pressure Sensitive Systems showed a total of (1,043) for the quarter. The paid-up equity share capital was 148,327, which remained the same throughout the periods listed. The earnings per share were reported as (0.001) for both basic and diluted shares. This indicates a financial loss for the company during this quarter.

Pressure Sensitive Systems Financial Metrics

The Pressure Sensitive Systems table shows various details about a company's stock. The "Market Cap" is ₹95.3 Crores, which means the total value of all shares is that amount. The "Current Price" of each share is ₹6.42. The "High / Low" section indicates the highest price was ₹13.0 and the lowest was ₹5.90. The "Stock P/E" is 0.91, showing the stock is priced low compared to its earnings.

Here's the information about the stock presented in a simple table format:

Quarterly Results 

The Pressure Sensitive Systems table for Dec 2023, Mar 2024, and Jun 2024 shows how the company's financial performance changed over these periods. In Dec 2023, the company had high sales of ₹95.73 crores and an operating profit of ₹40.47 crores, with a good operating profit margin of 42.28%. 

Here’s a focused table for the periods Dec 2023, Mar 2024, and Jun 2024:

(Figures in Rs. Crores)

About Pressure Sensitive Systems

Pressure Sensitive Systems was founded on December 3, 1987, in Maharashtra as a private company. It became a public company on October 25, 1993, and officially changed its status on November 23, 1993. The company specializes in making different kinds of adhesive tapes, including Nylon cloth tapes, Rayon cloth tapes, single-sided and double-sided cotton cloth tapes, and fiberglass cloth tapes. These tapes are used for various applications due to their strong adhesive properties.

Pressure Sensitive Systems’ factory, located at Plot No. 6, Village Pimplegaon, Taluka Pen, Dist. Raigad, Maharashtra, has a production capacity of 300,000 square meters per year. Although the company was set up in 1987, it only started commercial production in August 1991 to test the market's response. 

Pressure Sensitive Systems’ Full-scale production began in October 1992. To support its operations, Pressure Sensitive Systems received a Term Loan of Rs. 47.40 Lakhs from Maharashtra State Financial Corporation and working capital facilities of about Rs. 22.50 Lakhs from Indian Bank, Matunga, Bombay. The company has since been focused on expanding its production and market presence.