Vraj Iron & Steel Q1 Results Revenue ₹1,150.72 Million & Profit After Tax ₹155.40 Million

Vraj Iron & Steel Q1 Results

Vraj Iron & Steel has shared its financial results for the quarter ending on June 30, 2024. For this period, the company earned ₹1,146.01 million from its core steel manufacturing operations. I made ₹4.71 million from other sources, bringing the total income to ₹1,150.72 million. Compared to the previous quarter ending March 31, 2024, where the total income was ₹1,194.61 million, this shows a slight decrease. In the same quarter last year, the total income was ₹1,067.11 million, which indicates a year-on-year increase for the current period.

Vraj Iron & Steel's total expenses for the quarter were ₹953.11 million. These expenses include costs for materials, stock purchases, employee salaries, and other operational costs. This is slightly lower compared to the ₹1,025.61 million spent in the previous quarter. The company’s profit before tax for the quarter was ₹205.10 million, down from ₹216.91 million in the same quarter last year.

Vraj Iron & Steel’s After accounting for tax expenses of ₹50.04 million, the company’s profit after tax for the quarter was ₹155.40 million. This is higher than the ₹163.34 million profit recorded in the same quarter last year. The earnings per share for the quarter were ₹6.29, which shows a good profit for shareholders.

Here's a simplified summary of Vraj Iron and Steel’s consolidated unaudited financial results for the quarter ended June 30, 2024:

(in Millions of INR):

Source: Here 

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Vraj Iron & Steel Financial Metrics

Vraj Iron & Steel’s market capitalization is ₹813 crore, indicating its total value in the stock market. The current stock price is ₹246, with a high of ₹278 and a low of ₹210 in recent times. The Price-to-Earnings (P/E) ratio is 14.2, which measures how much investors are willing to pay for each unit of earnings. The company has a high Return on Capital Employed (ROCE) of 36.6% and a strong Return on Equity (ROE) of 33.7%, showing good profitability.

Here's a summary of the financial data provided:

Quarterly Results 

The quarterly results for Vraj Iron & Steel show how the company performed financially over three periods. In December 2023, the company had sales of 81 crores and a net profit of 9 crores. By March 2024, sales increased to 119 crores, and net profit grew to 13 crores. In June 2024, sales slightly decreased to 115 crores, but net profit rose to 16 crores. The operating profit margin improved from 13% in December to 18% in June, indicating better efficiency and profitability.

Here's a summary of the quarterly result for December 2023, March 2024, and June 2024: 

About Vraj Iron & Steel 

Vraj Iron & Steel, formerly known as Phil Ispat, is a major steel manufacturer based in Raipur and Bilaspur, Chhattisgarh, India. It is a subsidiary of Gopal Sponge and Power Private. The company is known for its high-quality iron and steel products and is considered one of the leading steel producers in Central India.

Vraj Iron & Steel operates two main manufacturing plants in Raipur and Bilaspur. These facilities include advanced equipment such as Direct Reduced Iron (DRI) units, Electric Arc Furnaces (EAF), and continuous billet casting mills. The company also has a sophisticated high-speed rolling mill and modern technology for product quality and testing.

The company is expanding its production capabilities and adding new capacities to its plants. Vraj Iron & Steel is committed to diversifying its operations and improving its manufacturing processes. Its products are widely used for various structural purposes across India, reflecting its strong reputation in the steel industry.