Pritika Engineering Components Q1 Results Total Income ₹22.87 Cr. & Operating Profit ₹2.53 Cr.

Pritika Engineering Components Q1 Results: Pritika Engineering Components’ financial results for Q1 show various changes compared to both the previous quarter (QoQ) and the same quarter last year (YoY). For the fiscal period ending in June 2024, the total revenue was 22.87 crores. This is a decrease of 10.23% from the previous quarter (Mar 23), but an increase of 6.44% year-over-year (YoY) from the same quarter last year (Jun 23). Selling, general, and administrative expenses dropped by 6.84% QoQ but rose by 17.96% YoY.

Pritika Engineering Components’ Depreciation and amortization expenses decreased by 11.49% QoQ but saw a significant rise of 50.35% YoY. Other operating expenses also fell by 12.11% QoQ and slightly by 1.97% YoY. Overall, total operating expenses decreased by 5.83% QoQ and increased by 4.38% YoY.

Pritika Engineering Components’ Operating income for the quarter improved by 65.79% QoQ and 26.55% YoY. Net income before taxes increased dramatically by 181.96% QoQ and slightly by 0.51% YoY. Net income was up by 168.79% QoQ and 1.88% YoY. However, the diluted normalized EPS dropped by 148.28% QoQ but decreased by 16.28% YoY. In summary, while Pritika Engineering Components experienced strong year-over-year improvements in several areas, some metrics showed declines compared to the previous quarter.

Here is a summary of Pritika Engineering Components' Q1 results:

(All figures in crores except per share values)

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results 

Pritika Engineering Components Q1 Results

For this period, Pritika Engineering Components earned ₹2,21,636 lakhs from its main business operations. This is slightly higher than the ₹2,06,584 lakhs earned in the previous quarter but less than the ₹2,14,851 lakhs earned in the same quarter last year. Additionally, the company made ₹1,381 lakhs from other sources, which is lower than the ₹2,190 lakhs earned in the previous quarter but higher than the ₹697 lakhs from the same quarter last year. When combined, the total revenue was ₹2,23,017 lakhs, which is an increase compared to the previous quarter but lower than the same quarter last year.

Pritika Engineering Components’ total expenses were ₹2,09,792 lakhs, higher than both the previous quarter and the same quarter last year. These expenses include costs for materials, employee salaries, depreciation, and other operating costs. Despite the higher expenses, the company still made a profit of ₹13,225 lakhs before taxes, which is an improvement from the previous quarter but similar to last year.

After accounting for taxes, Pritika Engineering Components’ net profit was ₹10,151 lakhs. This is an increase from the previous quarter and similar to last year. Overall, the financial performance shows a slight increase in profit, despite higher expenses.

Here's a summary of the financial results for the quarter ended June 30, 2024:

Pritika Engineering Components Financial Metrics

The table shows financial information for Pritika Engineering Components. The company's market cap, or total value of all its shares, is ₹232 crores. The current share price is ₹176, with a high of ₹178 and a low of ₹46.5 in recent times. The Price-to-Earnings (P/E) ratio is 68.8, indicating how expensive the shares are relative to earnings. The book value of each share is ₹30.2. The company does not pay dividends. 

Here’s the data in table format:

Quarterly Results 

In December 2023, the company had sales of Rs. 22.34 crores and expenses of Rs. 19.09 crores, resulting in an operating profit of Rs. 3.25 crores and an operating profit margin (OPM) of 14.55%. Other income was Rs. 0.13 crores, and the company paid Rs. 1.04 crores in interest and Rs. 0.81 crores in depreciation. The profit before tax was Rs. 1.53 crores, with a tax rate of 24.18%, leading to a net profit of Rs. 1.16 crores and an EPS of Rs. 0.88. 

Here is the transposed table with financial data for Dec 2023, Mar 2024, and Jun 2024:

About Pritika Engineering Components 

Pritika Engineering Components is a part of the Pritika Auto Industries group, serving as its captive unit. The company was founded in 1973 by Mr. R.S. Nibber, who began by making small forgings. Today, Pritika is well-known in the Tractor and Automotive industry for producing high-quality precision machined components from castings. The company's main manufacturing plant is located in Hoshiarpur, Punjab, and features both a foundry and a machine shop.

Pritika’s manufacturing facility includes advanced equipment like DISA ARPA 900 and DISA ARPA 450 foundries, induction furnaces, and cold core box machines. It also has modern CNC machines, such as Horizontal and Vertical Machining Centers and Turning Centers. This technology allows Pritika to create a wide range of components, from 5 to 100 kilograms, using Grey and S.G. Iron Castings.