Pokarna Limited , a leading player in the granite and quartz surfaces industry, has announced its unaudited financial results for the first quarter, along with a significant board appointment. The company faced challenges in its standalone operations but showed resilience in its consolidated performance.

Financial Performance

On a standalone basis, Pokarna Limited reported a decline in revenue from operations for Q1. The company's standalone revenue stood at Rs 487.16 lakhs, down from Rs 598.47 lakhs in the corresponding quarter of the previous year. The standalone net loss narrowed to Rs 225.76 lakhs, compared to a loss of Rs 368.13 lakhs in Q1 of the previous year.

However, the consolidated results paint a more positive picture:

Despite a slight dip in consolidated revenue and profit compared to the same quarter last year, Pokarna Limited maintained strong profitability, with a net profit margin of approximately 16.55% for Q1.

Segment Performance

The company operates in two primary segments: Granites and Quartz Surfaces. The Quartz Surfaces segment continued to be the major revenue driver:

• Granites segment revenue: Rs 487.16 lakhs
• Quartz Surfaces segment revenue: Rs 16,609.01 lakhs

The Quartz Surfaces segment demonstrated robust performance, contributing significantly to the company's overall revenue and profitability.

Board Appointment

In a strategic move to strengthen its corporate governance, Pokarna Limited announced the appointment of Mr. Gautam Damodar Sawang as an Additional Non-Executive Independent Director for a term of three years, subject to shareholder approval. Mr. Sawang, a retired IPS officer with 38 years of distinguished public service, brings a wealth of experience in leadership, governance, and strategic management.

Key highlights of Mr. Sawang's profile include:

• Former Director General of Police of Andhra Pradesh State (2019-2022)
• Chairman of the AP State Public Service Commission (2022-2024)
• International experience as Police Commissioner of United Nations Police (2008-2012)

His appointment is expected to bring valuable insights into compliance, risk management, and ethical leadership to Pokarna Limited's board.

Dividend and AGM Announcement

The Board of Directors has recommended a final dividend of Rs 0.60 per equity share (30%) for the financial year, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The 34th AGM is scheduled for September 10, to be held through video conferencing.

Outlook

While Pokarna Limited faces challenges in its standalone granite business, the strong performance of its Quartz Surfaces segment through its subsidiary, Pokarna Engineered Stone Limited, continues to drive overall growth. The appointment of Mr. Gautam Damodar Sawang as an independent director signals the company's commitment to enhancing its governance structure and bringing diverse perspectives to its strategic decision-making process.

Investors and stakeholders will be watching closely to see how these developments impact Pokarna Limited's performance in the coming quarters, particularly in light of the evolving market dynamics in the granite and engineered stone sectors.

Pokarna Limited has announced its financial results for the fourth quarter, showcasing remarkable growth in both profit and revenue.

Profit Surge

The company reported a consolidated net profit of ₹589.00 million for the quarter, marking a significant increase from ₹155.00 million in the same period last year. This represents a year-over-year growth of approximately 280%. The profit also showed improvement on a sequential basis, rising from ₹506.00 million in the previous quarter.

Revenue Performance

Pokarna's Q4 revenue demonstrated strong performance, reaching ₹2.63 billion. This figure represents a substantial increase from ₹1.64 billion recorded in the corresponding quarter of the previous year, indicating a year-over-year growth of about 60%.

Financial Highlights

The impressive financial results reflect Pokarna's strong market position and operational efficiency. The substantial growth in both revenue and profit suggests that the company has successfully capitalized on market opportunities and potentially improved its cost management strategies.

While the reasons behind this significant growth are not explicitly stated in the available data, factors such as increased demand, expansion of product lines, or favorable market conditions could have contributed to Pokarna's robust performance in the fourth quarter.

Investors and market analysts will likely be keeping a close eye on Pokarna's future performance to see if this growth trajectory can be maintained in the coming quarters.