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- Shirpur Gold Refinery Q1 Results, Net Loss of ₹1,477.90 Lakhs on Revenue of ₹48.44 Lakhs
Shirpur Gold Refinery Q1 Results, Net Loss of ₹1,477.90 Lakhs on Revenue of ₹48.44 Lakhs
Shirpur Gold Refinery Q1 Results report a net loss of ₹1,477.90 lakhs and revenue of ₹48.44 lakhs, reflecting ongoing financial challenges in Shirpur Gold Refinery Q1 Results.
by P Nandhini
Updated Aug 20, 2024
Table of Content
Shirpur Gold Refinery has announced its unaudited financial results for the first quarter of the fiscal year 2024-2025, ending on June 30, 2024. The company reported a total revenue of ₹48.44 lakhs for this quarter, a significant decrease compared to previous periods.
Despite efforts to manage costs, the company faced substantial challenges, leading to a net loss of ₹1,477.90 lakhs. This marks a continuation of financial struggles, reflecting the tough market conditions and the ongoing Corporate Insolvency Resolution Process (CIRP) that began in June 2024.
The board of directors' powers have been suspended due to the CIRP, with the Interim Resolution Professional (IRP) now managing the company's affairs. In the first quarter, the company incurred significant expenses, particularly in material costs and finance charges.
These financial difficulties have resulted in a further decline in profitability, as the company works to navigate its current challenges. The results highlight the pressing need for strategic decisions to stabilize and improve the company’s financial health in the upcoming quarters.
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Shirpur Gold Refinery Q1 Results 2024 - 2025
Below is a summary of Shirpur Gold Refinery's financial results for the first quarter of the fiscal year 2024-2025, ending on June 30, 2024. This table highlights key financial figures, showcasing the company's performance compared to previous periods.
| Particulars | Q1 FY 2024-25 (30-Jun-24) | Q4 FY 2023-24 (31-Mar-24) | Q1 FY 2023-24 (30-Jun-23) |
|---|---|---|---|
| Revenue from Operations | ₹48.44 lakhs | ₹30,298.77 lakhs | ₹1,10,317.46 lakhs |
| Cost of Materials Consumed | - | ₹20,268.65 lakhs | ₹1,05,176.51 lakhs |
| Finance Cost (net) | ₹1,193.25 lakhs | ₹1,576.96 lakhs | ₹1,269.13 lakhs |
| Total Expenses | ₹1,526.34 lakhs | ₹38,478.12 lakhs | ₹1,11,066.60 lakhs |
| Net Profit/(Loss) after Tax | ₹(1,477.90) lakhs | ₹(8,179.35) lakhs | ₹(749.14) lakhs |
| Total Comprehensive Income/(Loss) | ₹(1,477.90) lakhs | ₹(8,179.35) lakhs | ₹(749.14) lakhs |
| Paid-up Equity Share Capital | ₹2,913.72 lakhs | ₹2,913.72 lakhs | ₹2,913.72 lakhs |
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Shirpur Gold Refinery Current Market Overview
Shirpur Gold Refinery's current market situation shows some financial challenges. The company's stock is priced at ₹5.02, with a recent drop of 1.57%. It has a market capitalization of ₹14.6 crores, which is relatively low.
The company's book value is negative at ₹-81.9, and it has a Return on Capital Employed (ROCE) of -11.6%, indicating financial difficulties. Despite these challenges, the company remains listed on the BSE and NSE, but it currently does not offer any dividend yield to its investors.
| Particulars | Details |
|---|---|
| Stock Price | ₹5.02 |
| Price Change | -1.57% |
| Market Capitalization | ₹14.6 crores |
| Book Value | ₹-81.9 |
| Return on Capital Employed (ROCE) | -11.6% |
| Dividend Yield | 0.00% |
| Face Value | ₹10.0 |
Quarterly Results
Shirpur Gold Refinery's recent quarterly performance highlights a significant downturn in both sales and profits. The data for the last three quarters reveals a consistent decline in the company's financial health, with operating losses increasing over time.
Below is a table summarizing the results for December 2023, March 2024, and June 2024.
| Metric | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| Sales (₹ in crores) | 570 | 305 | 0 |
| Expenses (₹ in crores) | 571 | 368 | 2 |
| Operating Profit (₹ in crores) | -1 | -63 | -2 |
| OPM % | 0% | -21% | 0% |
| Net Profit (₹ in crores) | -9 | -82 | -15 |
| EPS (₹) | -3.17 | -28.07 | -5.07 |
About Shirpur Gold Refinery
Shirpur Gold Refinery is a company based in India that specializes in refining gold and silver. Established in 1984, it operates a state-of-the-art refinery in Shirpur, Maharashtra, with the capacity to process 217 metric tonnes of gold and silver annually.
The company produces high-purity gold and silver bars, coins, and jewelry under the brand name "Zee Gold." Listed on the BSE and NSE, Shirpur Gold Refinery has a strong presence in both domestic and international markets, focusing on creating high-quality precious metal products.
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Shirpur Gold Refinery Q1 Results - FAQs
1. What are the recent financial results for Shirpur Gold Refinery?
Shirpur Gold Refinery reported a net loss of ₹1,477.90 lakhs for Q1 FY 2024-25.
2. When did Shirpur Gold Refinery announce its latest financial results?
Shirpur Gold Refinery announced its Q1 FY 2024-25 results on August 14, 2024.
3. What was Shirpur Gold Refinery’s revenue for Q1 FY 2024-25?
Shirpur Gold Refinery's revenue for Q1 FY 2024-25 was ₹48.44 lakhs.
4. How does the Q1 FY 2024-25 revenue of Shirpur Gold Refinery compare to the previous quarter?
Shirpur Gold Refinery’s revenue in Q1 FY 2024-25 is significantly lower compared to ₹30,298.77 lakhs in Q4 FY 2023-24.
5. What was Shirpur Gold Refinery's total expenses for Q1 FY 2024-25?
Shirpur Gold Refinery's total expenses for Q1 FY 2024-25 were ₹1,526.34 lakhs.
6. How has Shirpur Gold Refinery’s net profit/loss changed compared to the previous year?
Shirpur Gold Refinery’s net loss for Q1 FY 2024-25 is higher compared to ₹(749.14) lakhs in Q1 FY 2023-24.
7. What was Shirpur Gold Refinery’s finance cost in Q1 FY 2024-25?
Shirpur Gold Refinery’s finance cost for Q1 FY 2024-25 was ₹1,193.25 lakhs.
8. What is the paid-up equity share capital of Shirpur Gold Refinery?
The paid-up equity share capital of Shirpur Gold Refinery is ₹2,913.72 lakhs.
9. What was the total comprehensive income/loss for Shirpur Gold Refinery in Q1 FY 2024-25?
The total comprehensive income/loss for Shirpur Gold Refinery in Q1 FY 2024-25 was ₹(1,477.90) lakhs.