Parvati Sweetners Reports 90% Revenue Decline and Rs 350 Crore Loss in Q1
Parvati Sweetners & Power experienced a severe financial downturn in Q1. Revenue dropped 90.40% to Rs 27.61 crore from Rs 291.86 crore year-over-year. The company reported a net loss of Rs 350.26 crore, compared to a profit of Rs 2.67 crore in the same quarter last year. EBITDA margin turned negative at -129.40%, down from 5.90% previously. The Board of Directors approved these unaudited results on August 12.
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Parvati Sweetners & Power , a key player in the sweeteners industry, has reported a significant downturn in its financial performance for the first quarter. The company's unaudited financial results, approved by the Board of Directors on August 12, reveal a stark contrast to its performance in the same period last year.
Sharp Revenue Decline
The company's revenue saw a dramatic fall of 90.40%, plummeting to Rs 27.61 crore from Rs 291.86 crore in the same quarter of the previous year. This substantial decrease in revenue highlights the challenging market conditions faced by the company during the quarter.
Significant Net Loss
Parvati Sweetners reported a net loss of Rs 350.26 crore for the quarter, a stark reversal from the profit of Rs 2.67 crore recorded in the same quarter of the previous year. This considerable loss underscores the financial strain the company is currently experiencing.
Negative EBITDA Margin
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin turned negative at -129.40%, compared to a positive 5.90% in the corresponding quarter of the previous year. This negative margin indicates significant operational challenges and increased costs relative to revenue.
Financial Position
As of March 31, Parvati Sweetners reported a paid-up equity share capital of Rs 74.57 crore. The company's reserves, excluding revaluation reserves, stood at Rs 2,128.54 crore.
Quarterly Performance Overview
| Particulars (in Rs. Crore) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue | 27.61 | 291.86 | -90.40% |
| Net Profit/(Loss) | (350.26) | 2.67 | -13,218.35% |
| EBITDA Margin | -129.40% | 5.90% | -135.30 pts |
The table above clearly illustrates the extent of the financial downturn experienced by Parvati Sweetners in the current quarter compared to the same period in the previous year.
Management Approval
The Board of Directors of Parvati Sweetners & Power approved these standalone unaudited results in their meeting held on August 12. As per the regulatory requirements, the company has submitted these results to the stock exchanges.
Investors and stakeholders will be closely watching the company's future performance and any strategic measures it may implement to address the current financial challenges.
Historical Stock Returns for Parvati Sweetners & Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.31% | +2.17% | -5.05% | -11.22% | -28.79% | +571.43% |
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