Ceenik Exports Reports Q1 Loss, Schedules AGM for September
Ceenik Exports Limited reported a net loss of Rs. 379.54 lakhs for Q1 ended June 30, compared to a profit of Rs. 380.51 lakhs in the same quarter last year. Total income turned negative at Rs. 340.64 lakhs, primarily due to a Rs. 388.27 lakhs loss in derivative trading. The realty & investments segment contributed positively with Rs. 47.63 lakhs in revenue. The company's 31st AGM is scheduled for September 25 via video conferencing. As of June 30, total assets stood at Rs. 5,723.03 lakhs with total equity at Rs. 1,699.87 lakhs.
*this image is generated using AI for illustrative purposes only.
Ceenik Exports (India) Limited, a company engaged in realty, investments, and derivative trading, has reported a significant loss for the first quarter. The company's financial results, approved by the Board of Directors on August 12, reveal a challenging start to the financial year.
Financial Performance
Ceenik Exports reported a net loss of Rs. 379.54 lakhs for the quarter ended June 30, a stark contrast to the profit of Rs. 380.51 lakhs recorded in the same quarter of the previous year. The company's total income from operations turned negative at Rs. 340.64 lakhs, primarily due to substantial losses in its derivative trading business.
Key financial highlights for Q1:
| Particulars | Q1 (Rs. lakhs) | Q1 Previous Year (Rs. lakhs) |
|---|---|---|
| Total Income | (340.64) | 612.13 |
| Net Profit/(Loss) | (379.54) | 380.51 |
| EPS (Rs.) | (9.44) | 11.36 |
The company's performance was significantly impacted by:
- Losses in derivative trading business: Rs. 388.27 lakhs
- Positive contribution from realty & investments segment: Rs. 47.63 lakhs
Segment-wise Performance
Ceenik Exports operates in two main segments:
- Realty & Investments: This segment generated revenue of Rs. 47.63 lakhs and a segment result of Rs. 32.70 lakhs.
- Derivative Trading Business: This segment reported a loss of Rs. 388.27 lakhs, significantly impacting the overall performance.
Annual General Meeting and Corporate Actions
The Board of Directors has scheduled the 31st Annual General Meeting (AGM) for September 25, to be held via video conferencing. Other key decisions include:
- Appointment of M/s Dilip Swarnkar & Associates as secretarial auditors for five years, subject to shareholder approval.
- Setting September 18 as the cut-off date for AGM voting eligibility.
Balance Sheet Overview
As of June 30, Ceenik Exports reported:
- Total Assets: Rs. 5,723.03 lakhs
- Total Equity: Rs. 1,699.87 lakhs
- Non-Current Liabilities: Rs. 1,062.63 lakhs
- Current Liabilities: Rs. 2,960.53 lakhs
The company's financial position reflects a mix of investments in property, derivative trading assets, and various current and non-current assets.
Conclusion
Ceenik Exports faces challenges in its derivative trading business, which has significantly impacted its overall financial performance for Q1. The company's realty and investments segment, however, continues to contribute positively. As the company moves forward, stakeholders will be keenly watching how it navigates these challenges and works towards improving its financial position in the coming quarters.
Historical Stock Returns for Ceenik Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.48% | -6.17% | -17.70% | -37.85% | -64.77% | +6,751.85% |
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