Gillanders Arbuthnot Reports Q1 Loss, Expands Engineering Division
Gillanders Arbuthnot reported a consolidated net loss of Rs. 545.52 lakhs for Q1, improving from Rs. 982.22 lakhs loss in the same quarter last year. Consolidated revenue increased to Rs. 8,837.47 lakhs. The company's Engineering and Property segments showed profits, while Tea and Textiles segments reported losses. The Board approved setting up a new structural fabrication workshop for the Engineering Division with a 300 MT per annum capacity. Ms. Neha Singh was appointed as Company Secretary and Compliance Officer. The company also amended its Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
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Gillanders Arbuthnot and Company Limited , a diversified conglomerate, has reported mixed financial results for the first quarter, while also announcing strategic expansions and key appointments.
Financial Performance
The company reported a consolidated net loss of Rs. 545.52 lakhs for Q1, showing an improvement from the Rs. 982.22 lakhs loss in the same quarter last year. On a standalone basis, the loss narrowed to Rs. 409.00 lakhs from Rs. 723.98 lakhs year-over-year.
Consolidated revenue from operations increased to Rs. 8,837.47 lakhs, up from Rs. 8,485.41 lakhs in the corresponding quarter of the previous year. However, standalone revenue declined to Rs. 7,812.12 lakhs from Rs. 8,137.46 lakhs.
Segment Performance
Gillanders Arbuthnot operates across four segments:
| Segment | Performance |
|---|---|
| Tea | Loss of Rs. 338.78 lakhs |
| Engineering | Profit of Rs. 142.42 lakhs |
| Textiles | Loss of Rs. 180.71 lakhs |
| Property | Profit of Rs. 132.75 lakhs |
Expansion of Engineering Division
In a significant development, the Board of Directors has approved the setting up of a new structural fabrication workshop for the Engineering Division (MICCO) at Champdani, Hoogly. The new facility will have a production capacity of 300 MT per annum, potentially boosting the division's capabilities and revenue.
Key Appointment
The company has appointed Ms. Neha Singh as the Company Secretary and Compliance Officer, effective August 12. Ms. Singh, a Fellow Member of the Institute of Company Secretaries of India, brings over 11 years of experience in corporate governance and regulatory compliance.
Corporate Governance
The Board has approved amendments to the Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive Information, aligning it with recent SEBI regulations. This move underscores the company's commitment to maintaining high standards of corporate governance and transparency.
Outlook
While the company continues to face challenges, particularly in its Tea and Textiles segments, the expansion of the Engineering Division and the improved performance compared to the previous year suggest potential for recovery. The diverse nature of Gillanders Arbuthnot's business portfolio may provide resilience as it navigates through the current economic landscape.
Historical Stock Returns for Gillanders Arbuthnot
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.49% | -0.99% | -2.74% | +20.78% | +32.00% | +310.30% |
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