NewsEarningsSabrimala Industries Reports Rs 32.69 Lakhs Net Profit for FY2024, Company Secretary ResignsSabrimala Industries Reports Rs 32.69 Lakhs Net Profit for FY2024, Company Secretary Resigns
Sabrimala Industries India Limited has reported a net profit of Rs 32.69 lakhs for FY2024, compared to a loss of Rs 26.69 lakhs in the previous year. Revenue from operations increased to Rs 557.49 lakhs, up from Rs 109.09 lakhs in FY2023. The company's Basic EPS improved to Rs 0.38. Ms. Radhika Tosniwal, Company Secretary and Compliance Officer, has resigned. The Board reappointed M/s Rastogi Sunil & Associates as Internal Auditor and M/s RSH & Associates as Secretarial Auditor for FY2024-25. Statutory auditors issued an unmodified opinion on the financial results.
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Sabrimala Industries India Limited has reported a significant turnaround in its financial performance for the fiscal year 2024, along with changes in key personnel. The company's board recently approved the audited financial results for the quarter and year ended March 31, 2024.
Financial Highlights
- Net Profit: Rs 32.69 lakhs for FY2024, compared to a loss of Rs 26.69 lakhs in the previous year
- Revenue from Operations: Rs 557.49 lakhs for FY2024, up from Rs 109.09 lakhs in FY2023
- Earnings Per Share: Basic EPS improved to Rs 0.38 for FY2024 from Rs -0.31 in the previous year
The company's financial performance shows a remarkable improvement, with a substantial increase in revenue and a shift from loss to profit.
Management Changes
Ms. Radhika Tosniwal, who served as the Company Secretary and Compliance Officer, has resigned from her position effective May 27, 2024. The resignation was attributed to personal reasons and her desire to explore new opportunities.
Auditor Appointments
The Board has made the following reappointments for the fiscal year 2024-25:
- M/s Rastogi Sunil & Associates as Internal Auditor
- M/s RSH & Associates as Secretarial Auditor
Audit Opinion
The statutory auditors have issued an unmodified opinion on both the standalone and consolidated financial results, indicating that the financial statements present a fair and accurate view of the company's financial position.
Financial Performance Table
| Metric | FY2024 | FY2023 | Change |
|---|---|---|---|
| Net Profit (Rs Lakhs) | 32.69 | -26.69 | Positive |
| Revenue from Operations (Rs Lakhs) | 557.49 | 109.09 | 411.04% |
| Basic EPS (Rs) | 0.38 | -0.31 | Positive |
Sabrimala Industries India Limited's financial results demonstrate a significant improvement over the past year, with a notable increase in revenue and a return to profitability. The company's ability to turn around its financial situation, coupled with the positive audit opinion, may be seen as encouraging signs for stakeholders. However, the resignation of the Company Secretary and Compliance Officer represents a change in the management structure that investors may want to monitor.
Historical Stock Returns for Sabrimala Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.43% | +14.68% | -4.54% | +68.23% | -33.33% | +237.18% |
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