Rishabh Digha Steel & Allied Products Q1 Results Operating Income Up 84.48% QoQ & Net Income Improves 99.32% YoY

Rishabh Digha Steel & Allied Products Q1 Results: In the latest quarterly financial results for Rishabh Digha Steel & Allied Products, the company did not generate any revenue during the period from June 2024. This is the same as the previous quarter and the same as a year ago. The company's selling, general, and administrative expenses dropped to zero from 0.07 crores in the previous quarter and were lower compared to 0.06 crores a year ago. Depreciation and amortization, which are the costs associated with the reduction in value of assets over time, also fell to zero from 0.05 crores last quarter and were down from 0.08 crores a year ago.

Rishabh Digha Steel & Allied Products’ other operating expenses, which are additional costs incurred during business operations, increased to 0.14 crores from a negative value of -0.05 crores last quarter but were up from 0.09 crores a year ago. Total operating expenses dropped significantly to 0.14 crores from 0.19 crores in the previous quarter and were down from 0.23 crores a year ago. As a result, operating income, which is the profit from core business activities, also improved to -0.14 crores, reflecting a significant reduction in losses.

Rishabh Digha Steel & Allied Products’s Net income before taxes turned positive at 0.08 crores, reversing a loss of -0.21 crores from the previous quarter and matching the loss from a year ago. The net income, the final profit after all expenses, also improved to 0.08 crores, compared to a loss of -0.20 crores in the previous quarter and the same loss a year ago. The diluted normalized earnings per share (EPS), which shows the profit allocated to each share, turned positive at 0.15 crores, showing a significant turnaround from a loss of -0.37 crores in the previous quarter and -0.33 crores a year ago.

Here’s a summary of Rishabh Digha Steel & Allied Products' Q1 financial results:

Source: Here 

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Rishabh Digha Steel & Allied Products Q1 Results

Here's a simplified summary of the financial results:

Financial Results (in Rs. Lakhs)

Rishabh Digha Steel & Allied Products Financial Metrics

Rishabh Digha Steel & Allied Products has a market cap of ₹19.5 crore, with a current price of ₹35.5. Its stock price has ranged from ₹15.3 to ₹53.3. The price-to-earnings ratio (P/E) is very low at 1.66, indicating it’s cheap relative to earnings. Its book value per share is ₹33.0. 

Here's a summary of the financial information you provided:

Quarterly Results 

In December 2023, the company had no sales and spent 0.14 crores on expenses, resulting in an operating loss of 0.14 crores. Other income was 0.10 crores, and the net loss was 0.08 crores with an EPS of -0.15. By March 2024, sales were still at 0.00 crores, but expenses increased significantly to 0.97 crores. 

Here’s the data for December 2023, March 2024, and June 2024:

About Rishabh Digha Steel & Allied Products

Rishabh Digha Steel & Allied Products began in 1989 with humble beginnings in a small shed located in Navi Mumbai. As the demand for better infrastructure increased in the mid-1990s, the company expanded by acquiring a larger site of 5,340 square meters in Taloja, an area strategically positioned near Mumbai and JNPT. This new location allowed for efficient transportation of heavy goods, which was crucial for the company’s growth.

Over the years, Rishabh Digha Steel & Allied Products evolved from a private business into a publicly traded company listed on the Bombay Stock Exchange (BSE). This transition marked a significant milestone in its history. Despite the changes and growth, the company has consistently rewarded its shareholders with healthy dividends.

Rishabh Digha Steel & Allied specializes in processing steel and related products. Its core services include HR (Hot Rolled) and CR (Cold Rolled) coil straightening and de-coiling, as well as cutting 16mm steel sheets. These services are crucial for various industries, ensuring the delivery of high-quality steel products to meet diverse industrial needs. The company’s dedication to quality and service has been key to its success and steady growth in the steel industry.