Shree Rajasthan Syntex Q1 Results Total Income ₹2.75 Crore & Operating Profit ₹-2.97 Crore

Shree Rajasthan Syntex Q1 Results: Shree Rajasthan Syntex's Q1 results for June 2024 show significant changes compared to both the previous quarter and the same quarter last year. The company’s total revenue dropped drastically year-over-year (YoY) by 73.93%, meaning it earned much less money compared to June 2023. The revenue also fell quarter-on-quarter (QoQ) by 76.28%, showing a sharp decline from March 2023.

Shree Rajasthan's expenses also saw changes. Selling, General, and Administrative (SG&A) expenses were down by 65.55% YoY, which means the company spent much less on management and administrative costs compared to last year. Compared to the last quarter, SG&A expenses dropped by 66.12% QoQ.

Shree Rajasthan’s operating income improved slightly, but it’s still negative. YoY, the operating loss widened by 158.26%, showing the business is struggling more this year. However, quarter-on-quarter, the operating income improved by 84.69%, meaning the losses have decreased somewhat compared to March 2023.

Shree Rajasthan’s Net income before taxes also showed a better result QoQ, improving by 89.77%. YoY, it improved by 71.63%. Finally, the company's diluted earnings per share (EPS) were still negative at -0.79 but showed improvement from -5.83 YoY, reflecting a positive shift in the company's overall financial condition despite ongoing losses.

Here is a summary of Shree Rajasthan Syntex's Q1 results for June 2024, with comparisons to the previous quarter (March 2023) and the same quarter from the previous year (June 2023):

(All figures in crores except per share values)

Source: Here 

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Shree Rajasthan Syntex Q1 Results

Shree Rajasthan Syntex earned ₹275 lakhs from operations in the latest quarter (June 2024), an increase from ₹156 lakhs in the previous quarter (March 2024) but much lower than ₹1,055 lakhs in the same quarter last year (June 2023). Other income, which includes earnings from non-operational activities, was ₹108 lakhs in June 2024, but it was higher at ₹296 lakhs in March 2024.

Shree Rajasthan Syntex’s total expenses for June 2024 were ₹603 lakhs, much higher than its total income of ₹383 lakhs. Expenses included costs like materials, power, employee salaries, and finance costs. However, in the March 2024 quarter, total expenses were unusually low due to negative finance costs, which means the company may have gained from finance adjustments. This led to a profit of ₹12,666 lakhs in March 2024 due to an exceptional gain.

In June 2024, the company posted a loss of ₹227 lakhs. Its earnings per share also decreased to -₹0.81, compared to ₹45.22 in March 2024, showing a significant drop in profitability.

The table summarizes the financial results for a company across different periods. Here's a simple breakdown:

(Rs. in Lakhs)

Shree Rajasthan Syntex Stock Metrics

Shree Rajasthan Syntex is a company with a market value of ₹55.6 crore. Its current stock price is ₹19.8, and over the past year, the stock has reached a high of ₹24.2 and a low of ₹5.78. The company's price-to-earnings (P/E) ratio is 9.82, meaning the stock price is about 9.82 times its earnings. Its book value, or the net worth per share, is ₹4.72. 

Here is the information in table format:

Quarterly Results 

For Shree Rajasthan Syntex, the financial results show a challenging period. In December 2023, the company had sales of Rs. 4.69 crores and faced an operating loss of Rs. 1.25 crores. Expenses were higher than sales, leading to a negative operating profit margin of -26.65%. By March 2024, the situation worsened with sales dropping to Rs. 1.56 crores and a significant operating loss of Rs. 5.90 crores, resulting in an extremely negative margin of -378.21%. Despite a large jump in other income to Rs. 115.25 crores, the net profit was still negative. 

Here are the financial results for December 2023, March 2024, and June 2024:

(Figures in Rs. Crores)

About Shree Rajasthan Syntex 

Shree Rajasthan Syntex was founded in 1981 by Mr. Vinod K Ladia, a skilled textile engineer with an MBA. The company makes different types of yarn, including synthetic, cotton, and polypropylene. Over the years, SRSL has grown significantly and now has over 3,500 workers. 

Shree Rajasthan Syntex operate two modern manufacturing plants in Rajasthan, India. SRSL produces 2,500 metric tons of yarn each month and uses the latest machinery to ensure high quality. The company has built a strong reputation in the textile industry with its advanced technology and large-scale production capabilities.