Tasty Dairy Specialities Q1 Results Revenue Decreased 17.85% QoQ and 93.4% YoY

Tasty Dairy Specialities Growth Comparison 

Tasty Dairy Specialities Q1 Results: In Q1 2024, Tasty Dairy Specialities reported a challenging financial performance compared to previous periods. Their total revenue was ₹1.42 Cr, showing a significant decline of 93.4% year-over-year (YoY) from ₹21.52 Cr in Q1 2023. This decline reflects a major reduction in sales and revenue generation over the past year. When comparing Q1 2024 to Q4 2023, the revenue decreased by 17.85% quarter-on-quarter (QoQ), dropping from ₹1.73 Cr. This QoQ decrease highlights a reduction in revenue even within the most recent quarter.

In terms of expenses, Tasty Dairy Specialities reduced its Selling, General, and Administrative (SG&A) costs significantly. SG&A expenses fell by 60.57% QoQ, YoY from ₹0.33 Cr in Q1 2023 to ₹0.13 Cr in Q1 2024. This is a notable improvement from the previous quarter as well, where SG&A expenses decreased by 58.55% QoQ from ₹0.32 Cr in Q4 2023. Despite these cost reductions, the total operating expenses saw a major drop of 90.69% YoY, which is a positive sign.

Tasty Dairy Specialities’ operating income, though still negative, improved by 76.6% YoY compared to Q1 2023 and by 96.54% QoQ from Q4 2023. Similarly, the net income before taxes and the net income showed considerable improvements year-over-year (YoY). The diluted normalized EPS, though negative, increased by 39.05% YoY. These improvements indicate that, despite a tough financial period, Tasty Dairy Specialities is making strides towards recovery and better cost management.

Here is the financial summary of Tasty Dairy Specialities for Q1 2024 in table format:

Source: Here 

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Tasty Dairy Specialities Q1 Results

In the quarter ending June 30, 2023, Tasty Dairy earned ₹742.09 crore from operations and ₹401.97 crore from other sources, making a total income of ₹1,144.06 crore. Their expenses during this time were ₹898.72 crore. Major costs included ₹491.77 crore for materials, ₹33.47 crore for changes in inventory, ₹85.63 crore for employee salaries, and ₹52.89 crore for depreciation. They had a profit of ₹245.34 crore before tax.

Tasty Dairy Specialities income decreased slightly, and they faced a loss of ₹174.80 crore before tax comparing this to the previous quarter ending March 31, 2023. Expenses were higher in this quarter, reaching ₹2,061.72 crore, largely due to a significant rise in "Other expenses" which was ₹1,397.38 crore.

For the quarter ending June 30, 2022, their income was higher at ₹4,236.64 crore with expenses of ₹2,700.00 crore, resulting in a profit of ₹1,536.64 crore before tax. For the year ending March 31, 2023, total income was ₹8,783.84 crore with a profit of ₹1,483.34 crore after taxes. The data highlights fluctuations in their financial performance over time.

Here's the table simplified:

Tasty Dairy Specialities Stock Performance

Tasty Dairy Specialities is a company with a market capitalization of ₹24.7 crores, meaning it's valued at this amount on the stock market. Its current stock price is ₹12.1. The price has ranged between ₹17.6 at its highest and ₹8.21 at its lowest. The company's book value is negative at ₹-9.72, which means its liabilities exceed its assets. It does not pay any dividends, as the yield is 0.00%. The company’s Return on Capital Employed (ROCE) and Return on Equity (ROE) are both negative, indicating poor financial performance.

Here is the financial data in table format:

Quarterly Results 

The Tasty Dairy Specialities table shows the company's financial performance for three quarters: December 2023, March 2024, and June 2024. In December 2023, the company had low sales and high expenses, leading to a large loss. This trend continued into March 2024, with slightly better sales but still significant losses. By June 2024, sales and expenses were very low, and the company continued to face financial difficulties. 

Here is the transposed data for Dec 2023, Mar 2024, and Jun 2024:

(Figures in Crores)

About Tasty Dairy Specialities 

Tasty Dairy Specialities, founded by Atul Mehra in 1992, started with a small-scale operation of handling 200 liters of milk per day. It has since grown significantly, now processing around 350,000 liters of milk daily. Located in Jainpur, Kanpur Dehat, the company boasts a modern milk processing plant certified with ISO 22000:2018, ensuring high-quality standards. 

Tasty Dairy produces a wide range of dairy products, including pasteurized milk, cream, butter, ghee, paneer, and various sweets. Their products are sold under several brands such as “UJJWAL,” “SHIKHAR,” “VERIFRESH,” "CIMA," and "MITHAI MASTER" and are available across major regions in India.

Tasty Dairy Specialities focuses on utilizing the abundant local milk supply to create high-quality dairy products. Tasty Dairy emphasizes maintaining quality and increasing productivity, which has earned it several awards, including the MSME National Award and the Rajiv Gandhi National Quality Award. The company aims to be a leading food brand in India by offering safe, nutritious food at competitive prices, promoting economic well-being, and maintaining high standards in all aspects of its operations.