Universal Starch Chem Allied Reports Q1 Loss, Sets 52nd AGM Date
Universal Starch Chem, a maize products manufacturer, reported a loss after tax of Rs 250.60 lakh in Q1, compared to a profit of Rs 146.44 lakh in the same quarter last year. Revenue from operations decreased by 6.6% to Rs 12,441.90 lakh. The company's EPS turned negative at Rs -5.97. Total expenses were Rs 12,409.82 lakh, slightly lower than the previous year. The 52nd Annual General Meeting is scheduled for September 30, with e-voting available from September 27 to 29.
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Universal Starch Chem , a leading manufacturer of maize products, has reported a significant downturn in its financial performance for the first quarter. The company's board of directors approved the quarterly financial results, revealing a loss after tax of Rs 250.60 lakh, a stark contrast to the profit of Rs 146.44 lakh recorded in the same quarter of the previous year.
Financial Highlights
The company's revenue from operations saw a decline, dropping to Rs 12,441.90 lakh from Rs 13,326.75 lakh year-over-year. This represents a decrease of approximately 6.6% in top-line performance. The financial results paint a challenging picture for the maize products manufacturer, with key metrics showing a downward trend:
| Particulars (Rs in Lakh) | Q1 Current | Q1 Previous | Change (%) |
|---|---|---|---|
| Revenue from Operations | 12,441.90 | 13,326.75 | -6.6% |
| Total Income | 12,462.34 | 13,361.08 | -6.7% |
| Profit/(Loss) Before Tax | -247.48 | 200.45 | - |
| Profit/(Loss) After Tax | -250.60 | 146.44 | - |
| Basic EPS (Rs) | -5.97 | 3.49 | - |
The company's earnings per share (EPS) turned negative, standing at Rs -5.97 compared to a positive Rs 3.49 in the corresponding quarter of the previous year.
Operational Performance
Universal Starch Chem's total expenses for the quarter amounted to Rs 12,409.82 lakh, slightly lower than the Rs 13,160.63 lakh reported in the same period last year. However, this reduction in expenses was not sufficient to offset the decline in revenue, resulting in the reported loss.
The cost of materials consumed decreased to Rs 9,909.84 lakh from Rs 10,972.51 lakh, reflecting the lower production levels in line with reduced sales. Employee benefit expenses saw a marginal increase to Rs 491.61 lakh from Rs 460.69 lakh in the previous year's quarter.
Annual General Meeting and Book Closure
In addition to the financial results, the board of directors has scheduled the company's 52nd Annual General Meeting (AGM) for September 30. The register of members and share transfer books will be closed from September 24 to September 30 (both days inclusive) for the purpose of the AGM.
Shareholders will have the opportunity to participate in e-voting, which will be available from September 27 (9:00 am IST) to September 29 (5:00 pm IST).
Business Segments
Universal Starch Chem continues to operate primarily in the manufacturing of maize products. The company also engages in additional activities such as diesel pump operations, wind power generation and distribution, and effluent treatment.
The company's financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by the Audit Committee before being approved by the Board of Directors.
Historical Stock Returns for Universal Starch Chem
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.58% | +1.28% | +6.16% | -0.15% | -12.20% | +250.65% |
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