Texel Industries Reports Turnaround with Rs 78.31 Lakh Profit in Q1
Texel Industries, a technical textile company, reported a standalone profit after tax of Rs 78.31 lakh in Q1, compared to a loss of Rs 156.25 lakh in the same quarter last year. Revenue from operations increased by 8.5% to Rs 2,575.13 lakh. The Technical Textile segment contributed Rs 2,544.13 lakh to revenue, while Land, Building & Property Development segment added Rs 31.00 lakh. Basic EPS improved to Rs 0.59 from a loss of Rs 1.87 per share. Finance costs decreased, and other income increased compared to the previous year.
*this image is generated using AI for illustrative purposes only.
Texel Industries , a leading player in the technical textile sector, has announced a significant turnaround in its financial performance for the first quarter. The company reported a standalone profit after tax of Rs 78.31 lakh, marking a substantial improvement from a loss of Rs 156.25 lakh in the corresponding quarter of the previous year.
Revenue Growth and Segment Performance
The company's revenue from operations stood at Rs 2,575.13 lakh, representing an 8.5% increase from Rs 2,372.63 lakh in the same quarter last year. Texel Industries operates in two primary segments:
- Technical Textile: This segment generated revenue of Rs 2,544.13 lakh, contributing the majority of the company's total revenue.
- Land, Building & Property Development: This segment reported revenue of Rs 31.00 lakh.
Profitability and Earnings Per Share
The company's profitability showed a marked improvement:
- Profit before tax: Rs 78.68 lakh
- Profit after tax: Rs 78.31 lakh
The basic earnings per share (EPS) improved to Rs 0.59, compared to a loss of Rs 1.87 per share in the corresponding quarter of the previous year.
Segment-wise Results
| Segment | Revenue (Rs in Lakh) | Profit before Interest and Tax (Rs in Lakh) |
|---|---|---|
| Technical Textile | 2,544.13 | 107.65 |
| Land, Building & Property Development | 31.00 | 26.17 |
Financial Position and Other Highlights
- Total income for the quarter: Rs 2,587.74 lakh
- Finance costs: Rs 67.75 lakh, down from Rs 100.13 lakh in the same quarter last year
- Other income: Rs 12.61 lakh, up from Rs 1.72 lakh in the same quarter last year
The company's board meeting was held on August 14, where these unaudited financial results were approved. The statutory auditors, M/s Sunil Poddar & Co., have expressed an unmodified audit opinion on the financial results.
Management Commentary
Shailesh R Mehta, Chairman and Managing Director of Texel Industries Limited, stated, "We are pleased with the company's performance this quarter, which demonstrates our ability to navigate challenges and deliver profitable growth. The significant turnaround in our bottom line is a testament to our strategic initiatives and operational efficiency."
About Texel Industries Limited
Texel Industries Limited is a prominent player in the technical textile industry, with its registered office located in Kheda, Gujarat. The company has been focusing on innovation and diversification in its product offerings, catering to various sectors through its technical textile solutions.
The financial results reflect Texel Industries' resilience and its potential for growth in the coming quarters. Investors and stakeholders will be keenly watching the company's performance as it continues to build on this positive momentum.
Historical Stock Returns for Texel Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.73% | -0.83% | -11.91% | -40.53% | +0.96% | +1,352.34% |
17
