Somi Conveyor Beltings Q1 Results Total Revenue ₹15.23 crores & Net income ₹0.74 crores

Somi Conveyor Beltings Q1 Results: Somi Conveyor Beltings table shows the Q1 financial results for June 2024, March 2023, and June 2023. Somi Conveyor Beltings’ Total Revenue for June 2024 was ₹15.23 crores, which is a big drop of 60.39% compared to the previous quarter (QoQ), where it was ₹38.79 crores. When looking at year-over-year (YoY), the revenue also decreased by 9.17% from ₹16.76 crores in June 2023. This shows a concerning trend in sales.

Somi Conveyor Beltings’ Net Income for June 2024 was ₹0.74 crores, falling by 60.53% QoQ from ₹1.98 crores in March 2023. However, comparing it year-over-year (YoY), there was an increase of 21.71% from ₹0.61 crores in June 2023. This means while the income decreased from the last quarter, it improved compared to the same quarter last year.

Somi Conveyor Beltings’ Diluted Normalized EPS (Earnings Per Share) was ₹0.63 crores in June 2024, which is a decrease of 60.63% QoQ from ₹1.69 crores in March 2023. Yet, year-over-year (YoY), it increased by 21.15% from ₹0.52 crores in June 2023. Overall, while Somi Conveyor Beltings faced challenges this quarter, it showed some positive growth when compared to last year.

Here are the Q1 results for Somi Conveyor Beltings, summarized in a simple table format:

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 result

Somi Conveyor Beltings Q1 Results

Somi Conveyor Beltings reported its financial results for the first quarter ending on June 30, 2024. In this period, the company's revenue from operations was ₹1,522.63 lakhs, which is slightly lower than the ₹1,676.30 lakhs recorded in the previous quarter. This shows a consistent performance in sales of conveyor belts, which are their main products. The total revenue, which includes all income, was ₹1,532.67 lakhs. This is a significant decrease from ₹3,846.58 lakhs in the last quarter, which may be due to seasonal changes or market conditions.

Somi Conveyor Beltings’ total expenses for this quarter were ₹1,432.78 lakhs. This is lower compared to the ₹3,594.54 lakhs spent in the previous quarter, suggesting that the company managed its costs more efficiently. After accounting for all expenses, the company made a profit before tax of ₹99.89 lakhs. After paying taxes, the profit dropped to ₹74.39 lakhs. The earnings per share, which is a measure of the company's profitability for shareholders, were ₹0.63, similar to the previous year's results. Overall, the company is performing well despite some fluctuations in revenue, indicating good management and stability in their operations.

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

(in Rs. Lakhs)

Somi Conveyor Beltings Financial Performance

Somi Conveyor Beltings is a company with a market capitalization of ₹ 200 crores, meaning that is the total value of all its shares. The current price of its shares is ₹ 170. The stock reached a high of ₹ 236 and a low of ₹ 56.2 in recent trading. It has a Price-to-Earnings (P/E) ratio of 42.8, which shows how much investors are willing to pay for each unit of earnings. The book value of the shares is ₹ 60.3, indicating the net asset value per share. 

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

Quarterly Results 

The Somi Conveyor Beltings table shows important financial results for three quarters: December 2023, March 2024, and June 2024. In December 2023, the company earned ₹18.76 crores in sales, with expenses of ₹17.11 crores, resulting in an operating profit of ₹1.65 crores. The operating profit margin (OPM) was 8.80%. In March 2024, sales increased to ₹38.44 crores, with expenses rising to ₹35.12 crores, leading to a higher operating profit of ₹3.32 crores and an OPM of 8.64%. In June 2024, sales dropped to ₹15.23 crores, expenses decreased to ₹13.66 crores, and the operating profit was ₹1.57 crores with an OPM of 10.31%. 

Here’s the table showing the quarterly results for December 2023, March 2024, and June 2024:

(Figures in Rs. Crores)

About Somi Conveyor Beltings 

SOMI Conveyor Beltings is a public company based in Jodhpur, India, listed on both NSE and BSE. The company has two modern manufacturing plants that are well-connected by rail, road, and air. They use advanced, fully automatic machinery that operates with 100% PLC technology.

SOMI Conveyor Beltings produces high-quality conveyor belts under the brand name Somiflex. With a capacity of 900,000 meters per year, their belts can reach widths of up to 2000mm. Their products are widely used in industries like cement, sponge iron, power, and mining, and are known for their durability and excellent quality.