Sri Ramakrishna Mills Coimbatore Q1 Results Showcase YoY Growth

Sri Ramakrishna Mills Coimbatore table shows the financial results for Sri Ramakrishna Mills in Coimbatore for the first quarter (Q1) of 2024. The figures are presented in crores (₹). Year-over-year (YoY) comparisons are made to see how the company has performed compared to the same quarter last year (June 2023), while quarter-on-quarter (QoQ) comparisons are used to see changes from the previous quarter (March 2023).

Sri Ramakrishna Mills Coimbatore’s total revenue reached ₹21.52 crores, which is a significant increase compared to ₹13.49 crores in June 2023, showing a strong YoY growth. Operating income also improved, rising from ₹2.03 crores last year to ₹7.52 crores this year, indicating that the company is making more money from its operations. The net income also saw a YoY rise, reaching ₹5.15 crores compared to ₹0.97 crores in the same quarter last year. The diluted normalized earnings per share (EPS) also increased from ₹1.36 last year to ₹7.24 in Q1 2024, showing strong YoY performance. Overall, the results reflect that Sri Ramakrishna Mills has made substantial progress in both revenue and profit, highlighting positive YoY growth in several key areas.

Here’s the quarterly financial result summary for Sri Ramakrishna Mills, Coimbatore, for Q1 2024, presented in a clear table format:

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Sri Ramakrishna Mills Coimbatore Q1 Results

Sri Ramakrishna Mills in Coimbatore shows financial results for the company over two periods: the three months ending on June 30, 2024, and the year ending on March 31, 2024. The company's main income comes from sales, which was about 2,151.74 lakhs for the three months compared to 2,165.83 lakhs for the whole year. They also earned some extra money, known as other income, which was 10.60 lakhs in the recent quarter but higher at 31.92 lakhs for the previous year.

Sri Ramakrishna Mills Coimbatore spent a total of 896.32 lakhs in the recent three months, a significant drop from 1,937.87 lakhs in the year. This drop in expenses is important because it indicates that the company is managing its costs better. As a result, their profit before tax rose from 259.88 lakhs to 688.22 lakhs, showing a strong performance.

Sri Ramakrishna Mills Coimbatore profit for the period also increased significantly from 190.91 lakhs to 515.01 lakhs. This is a good sign for the company, indicating they are becoming more profitable. Finally, the total comprehensive income also saw a rise, moving from 201.21 lakhs to 518.47 lakhs, which reflects the overall financial health of the company.

Here is the financial summary in a clear table format based on the provided data:

Sri Ramakrishna Mills Coimbatore Stock Performance

Sri Ramakrishna Mills in Coimbatore is a textile company with a market cap of ₹ 69.7 crores, which shows its total value in the stock market. The current stock price is ₹ 97.9, with a high of ₹ 99.0 and a low of ₹ 25.2 over a specific period. The Stock P/E (Price-to-Earnings) ratio is 6.66, indicating it is relatively inexpensive compared to its earnings. The book value is ₹ 26.1, showing the company's net asset value per share. 

Here's the financial information you provided presented in a clear table format:

Quarterly Results 

The financial results for Sri Ramakrishna Mills in December 2023, March 2024, and June 2024 show strong growth. In December 2023, the company reported sales of ₹10 crores and a net profit of ₹0.52 crores. By March 2024, sales increased significantly to ₹21.66 crores, with a net profit of ₹1.91 crores. In June 2024, the sales remained stable at ₹21.52 crores, while the net profit rose sharply to ₹5.15 crores. 

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

(Rs. in crores)

About Sri Ramakrishna Mills Coimbatore

Sri Ramakrishna Mills (Coimbatore), also known as SRMC, was founded in 1951 by a technocrat who was a cotton grower and ginner. The company started with just 6,160 spindles in Coimbatore, South India. Over the years, it has grown significantly and now operates with 94,000 spindles and 1,440 rotors, making it a key player in the textile industry. The Managing Director, Mr. D. Lakshminarayanaswamy, holds advanced degrees and has served in important roles in various national and international textile organizations. He is supported by Mrs. L. Nagaswarna, the Chief Executive, who has a background in commerce and business administration. Together, they lead SRMC with a strong focus on quality and innovation. The mills are known for producing high-quality cotton yarn, contributing to the local economy, and supporting the community through charitable initiatives. SRMC continues to be a respected name in the textile sector.