Shree Bhavya Fabrics Reports 24% Profit Surge, Sets 37th AGM Date
Shree Bhavya Fabrics Limited announced Q1 financial results with net profit rising 24% to Rs 72.99 lakhs, despite total income falling 7.66% to Rs 4,234.94 lakhs. The company scheduled its 37th AGM for September 30 in Ahmedabad, with book closure from September 24-30 and voting eligibility cut-off date set for September 23. Mr. Mukesh Shah appointed as scrutinizer for e-voting and AGM voting processes.
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Shree Bhavya Fabrics Limited, a prominent player in the textile industry, has announced its financial results for the quarter ended June 30, showcasing a significant improvement in profitability despite a slight dip in revenue.
Financial Performance
The company reported a net profit of Rs 72.99 lakhs for the quarter, marking a substantial 24% increase from Rs 58.76 lakhs in the corresponding quarter of the previous year. This growth in profit comes despite a decrease in total income, which fell to Rs 4,234.94 lakhs from Rs 4,586.11 lakhs year-over-year.
| Financial Metric | Q1 (Rs Lakhs) | Q1 (Rs Lakhs) | % Change |
|---|---|---|---|
| Net Profit | 72.99 | 58.76 | +24.22% |
| Total Income | 4,234.94 | 4,586.11 | -7.66% |
Operational Highlights
The company's board of directors approved the unaudited standalone financial results along with annual report components. Despite the challenging economic environment, Shree Bhavya Fabrics has managed to improve its profitability, potentially through cost optimization and operational efficiency measures.
Annual General Meeting and Corporate Actions
In a significant announcement, Shree Bhavya Fabrics has scheduled its 37th Annual General Meeting (AGM) for September 30, at 11:00 AM in Ahmedabad. The company has taken several key decisions regarding the AGM:
Book Closure: The register of members and share transfer books will remain closed from September 24 to September 30 (both days inclusive).
Voting Eligibility: September 23 has been set as the cut-off date for determining voting eligibility for the resolutions proposed in the AGM notice.
Scrutinizer Appointment: Mr. Mukesh Shah, a Practicing Company Secretary (Membership No FCS: 5827 CP No: 2213), has been appointed as the scrutinizer for overseeing the e-voting and voting processes at the AGM.
Management Commentary
Purushottam Radheshyam Agarwal, Managing Director of Shree Bhavya Fabrics Limited, signed off on the financial results, expressing confidence in the company's performance despite the challenging market conditions.
The company's ability to increase profitability in the face of reduced revenue demonstrates its resilience and effective management strategies. Investors and stakeholders will be keenly watching the upcoming AGM for further insights into the company's future plans and strategies to maintain this growth trajectory in the competitive textile sector.
Shree Bhavya Fabrics Limited continues to adapt to market dynamics, focusing on enhancing shareholder value while navigating the complexities of the textile industry. The upcoming AGM will provide an important platform for shareholders to engage with the management and gain deeper insights into the company's operations and future outlook.
Historical Stock Returns for Shree Bhavya Fabrics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.46% | -4.39% | +0.33% | +1.57% | +9.45% | +582.46% |
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