Bansisons Tea Industries Reports 89% Decline in Net Profit for FY22
Bansisons Tea Industries Limited reported a sharp 89% decline in net profit to ₹338.46 for FY22 compared to ₹7,886.52 in FY21. While revenue remained stable at ₹150.00, total expenses surged 68% to ₹185.36, primarily due to higher employee costs and operational expenses. The company received an unmodified audit opinion and clarified compliance matters with BSE regarding audit report submissions.
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Bansisons Tea Industries Limited has reported its audited financial results for the financial year ended March 31, 2022, showing a substantial decline in profitability despite stable revenue performance.
Financial Performance Overview
The company's financial performance for FY22 reflected challenging operational conditions, with net profit declining significantly year-over-year.
| Metric | FY22 | FY21 | Change (%) |
|---|---|---|---|
| Revenue from Operations | ₹150.00 | ₹150.00 | 0% |
| Total Income | ₹189.37 | ₹202.99 | -6.71% |
| Total Expenses | ₹185.36 | ₹110.13 | +68.32% |
| Profit Before Tax | ₹4.01 | ₹92.87 | -95.68% |
| Net Profit | ₹3.38 | ₹78.87 | -95.71% |
Revenue and Income Analysis
Revenue from operations remained unchanged at ₹150.00, primarily from lease rent income from tea garden operations. However, other income decreased to ₹39.37 from ₹52.99 in the previous year, mainly due to lower interest received. The company's total income declined by 6.71% to ₹189.37.
Expense Structure
Total expenses increased substantially by 68.32% to ₹185.36, driven by higher employee benefit expenses and other operational costs. Employee benefit expenses rose to ₹48.11 from ₹28.95, while other expenses increased significantly to ₹117.25 from ₹61.28. Depreciation expenses remained relatively stable at ₹20.01 compared to ₹19.89 in FY21.
Balance Sheet Position
The company's financial position as of March 31, 2022:
| Parameter | FY22 | FY21 |
|---|---|---|
| Total Assets | ₹6,227.03 | ₹6,219.76 |
| Equity Share Capital | ₹6,197.55 | ₹6,197.55 |
| Total Equity | ₹6,320.27 | ₹6,076.44 |
| Cash and Cash Equivalents | ₹76.68 | ₹106.93 |
Audit and Compliance
The company received an unmodified audit opinion from its statutory auditors, R.K. Bihani Associates, for the financial year 2021-22. The auditors confirmed that no qualifications, reservations, adverse remarks, or disclaimers were expressed in the audit report. The company submitted clarification to BSE regarding the initial non-submission of audit reports along with financial results, stating it was inadvertent and without malafide intent.
Earnings Per Share
Earnings per share declined significantly to ₹0.01 for FY22 from ₹0.13 in FY21, reflecting the substantial decrease in profitability. The weighted average number of equity shares remained constant at 61,97,550 shares.
Historical Stock Returns for Bansisons Tea Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
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