Narmada Gelatines Reports Strong Q1 Results with Revenue and Profit Growth
Narmada Gelatines Limited announced strong Q1 financial results with standalone revenue increasing 5.9% to Rs. 4,577.00 lakhs and profit rising 24.5% to Rs. 498.00 lakhs year-over-year. Consolidated profit reached Rs. 598.00 lakhs, including Rs. 100.00 lakhs from its associate. The company demonstrated effective cost management and operational efficiency. The Board approved a revision in statutory auditor remuneration to Rs. 7.50 lakhs per annum, subject to shareholder approval.
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Narmada Gelatines Limited, a leading manufacturer of ossein and gelatine, has announced its unaudited financial results for the first quarter, showcasing robust growth in both revenue and profitability.
Financial Highlights
Revenue Growth: The company reported standalone revenue from operations of Rs. 4,577.00 lakhs for the quarter, marking a 5.9% increase from Rs. 4,322.00 lakhs in the same quarter of the previous year.
Profit Surge: Standalone profit for the period rose significantly to Rs. 498.00 lakhs, up 24.5% from Rs. 400.00 lakhs year-over-year.
Consolidated Performance: On a consolidated basis, the company's profit reached Rs. 598.00 lakhs for the quarter, which includes a proportionate share of profit from its associate, India Gelatine and Chemicals Limited, amounting to Rs. 100.00 lakhs.
Earnings Per Share: The basic and diluted earnings per share stood at Rs. 8.23 for standalone results, reflecting the company's strong financial performance.
Key Financial Metrics
| Particulars (in Rs. lakhs) | Q1 (Standalone) | Q1 (Standalone) Previous Year | YoY Change |
|---|---|---|---|
| Revenue from Operations | 4,577.00 | 4,322.00 | +5.9% |
| Total Income | 4,581.00 | 4,378.00 | +4.6% |
| Profit Before Tax | 667.00 | 530.00 | +25.8% |
| Profit After Tax | 498.00 | 400.00 | +24.5% |
Operational Performance
The company's operational efficiency is evident from its ability to manage costs effectively while growing its revenue. The cost of materials consumed decreased slightly to Rs. 2,596.00 lakhs compared to Rs. 2,674.00 lakhs in the same quarter of the previous year, despite the increase in revenue.
Corporate Governance Update
In a move to ensure transparency and maintain high standards of corporate governance, the Board of Directors has approved a revision in the remuneration of the company's statutory auditors, Lodha & Co. LLP. The new remuneration is set at Rs. 7.50 lakhs per annum, subject to shareholder approval at the upcoming Annual General Meeting.
Management Commentary
While specific management comments were not provided in the available data, the financial results reflect the company's strong market position and operational efficiency in the ossein and gelatine manufacturing sector.
Looking Ahead
Narmada Gelatines Limited's robust start to the quarter positions it well for continued growth. The company's ability to increase profitability at a higher rate than revenue growth suggests improving operational efficiencies and potentially favorable market conditions.
Investors and stakeholders will likely keep a close eye on how the company maintains this momentum in the coming quarters, especially in light of any potential market challenges or opportunities in the ossein and gelatine industry.
Note: The financial results discussed in this article are subject to limited review by the company's statutory auditors as per regulatory requirements.
Historical Stock Returns for Narmada Gelatines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.30% | -8.56% | +3.43% | +1.43% | +2.83% | +119.15% |
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