Shree Tirupati Balajee Agro Trading Reports Mixed Q1 Results
Shree Tirupati Balajee Agro Trading Company Limited announced Q1 financial results. Standalone revenue decreased 13.54% to ₹7,706.16 lakhs, while net profit increased 4.88% to ₹392.91 lakhs. Consolidated revenue fell 12.62% to ₹12,540.60 lakhs, with net profit declining 6.51% to ₹513.82 lakhs. The company fully utilized ₹12,182.44 lakhs of its IPO proceeds, with ₹60.06 lakhs remaining for issue-related expenses.
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Shree Tirupati Balajee Agro Trading Company Limited has announced its unaudited financial results for the first quarter. The company reported a mixed performance with a decline in revenue but an increase in net profit on a standalone basis.
Standalone Performance
On a standalone basis, the company's performance was as follows:
- Revenue from operations decreased to ₹7,706.16 lakhs, compared to ₹8,912.90 lakhs in the same quarter last year, marking a decline of about 13.54%.
- Net profit increased to ₹392.91 lakhs, up from ₹374.61 lakhs, showing a growth of approximately 4.88%.
- Earnings per share (EPS) for the quarter stood at ₹0.42.
Consolidated Results
The consolidated financial results showed:
- Revenue from operations was ₹12,540.60 lakhs, down from ₹14,352.33 lakhs in the corresponding quarter of the previous year, representing a decrease of about 12.62%.
- Net profit attributable to owners of the company decreased to ₹513.82 lakhs from ₹549.59 lakhs, a decline of approximately 6.51%.
Key Financial Highlights
| Particulars (₹ in lakhs) | Q1 (Standalone) | Q1 (Standalone) YoY | Q1 (Consolidated) | Q1 (Consolidated) YoY |
|---|---|---|---|---|
| Revenue from Operations | 7,706.16 | 8,912.90 | 12,540.60 | 14,352.33 |
| Net Profit | 392.91 | 374.61 | 513.82 | 549.59 |
| EPS (₹) | 0.42 | 0.59 | 0.63 | 0.97 |
Other Developments
The company's Board of Directors approved these results at their meeting. Additionally, Shree Tirupati Balajee Agro Trading has reported on the utilization of its IPO proceeds:
- The company has fully utilized ₹12,182.44 lakhs of the total ₹12,242.50 lakhs raised through the IPO.
- The funds were used for various purposes including debt repayment, working capital funding, and general corporate purposes.
- A small amount of ₹60.06 lakhs remains unutilized, earmarked for issue-related expenses.
Summary
Shree Tirupati Balajee Agro Trading has managed to improve its standalone profitability despite facing challenges in revenue growth. The consolidated results, however, show a decline in both revenue and profit, suggesting potential headwinds in its subsidiary operations.
Investors and analysts will likely be watching closely to see how the company navigates the current market conditions and leverages its recent IPO investments to drive growth in the coming quarters.
Stakeholders are advised to refer to the detailed financial statements available on the company's website for a comprehensive understanding of the quarterly performance.
Historical Stock Returns for Shree Tirupati Balajee Agro
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.08% | -0.06% | +5.32% | -13.98% | -42.61% | -44.74% |
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