Zenith Fibres Reports Q1 Results, Approves Key Board Decisions
By ScanX News Team
Zenith Fibres announced Q1 financial results with revenue of Rs. 972.02 crore, down 5.76% year-over-year. Net profit decreased 28.87% to Rs. 37.82 crore. The company's manmade fibre segment reported a loss, while the wind mill segment remained profitable. The Board approved the continuation of Mrs. Rashmi Desai as Independent Director and appointed Mr. Upendra Shukla as Secretarial Auditor for five years, subject to shareholder approval.
*this image is generated using AI for illustrative purposes only.
Zenith Fibres , a manufacturer of manmade fibre and wind power generator, has announced its unaudited financial results for the first quarter, along with several key board decisions.
Financial Performance
The company reported revenue from operations of Rs. 972.02 crore for Q1, compared to Rs. 1,031.42 crore in the same quarter last year, marking a decrease of 5.76%. The total income, including other income, stood at Rs. 1,063.13 crore, down from Rs. 1,111.50 crore in the corresponding quarter of the previous year.
Despite the decline in revenue, Zenith Fibres managed to post a profit before tax of Rs. 49.59 crore, although this was lower than the Rs. 71.25 crore reported in the corresponding quarter of the previous year.
The company's net profit after tax for Q1 was Rs. 37.82 crore, compared to Rs. 53.17 crore in the same period last year, representing a decrease of 28.87%. Consequently, the earnings per share (EPS) decreased to Rs. 0.96 from Rs. 1.35 in the same period last year.
Segment Performance
Zenith Fibres operates in two segments:
- Manmade Fibre: This segment generated revenue of Rs. 970.15 crore but reported a loss of Rs. 79.56 crore before tax and interest.
- Wind Mill: The wind power generation segment contributed Rs. 62.93 crore to revenue and posted a profit of Rs. 41.80 crore before tax and interest.
Board Decisions
In addition to the financial results, the Board of Directors made several key decisions during their meeting held on August 2:
Continuation of Independent Director
The Board approved the continuation of Mrs. Rashmi Desai as an Independent Director (Non-executive) until November 10, 2027, subject to shareholder approval at the upcoming Annual General Meeting. This decision was made in light of Mrs. Desai reaching the age of 75 during her current term.
Appointment of Secretarial Auditor
Mr. Upendra Shukla, proprietor of M/s. Upendra Shukla & Associates, was appointed as the Secretarial Auditor for a period of five consecutive years, subject to shareholder approval.
These decisions reflect the company's commitment to maintaining strong corporate governance practices and ensuring continuity in its board composition.
The financial results and board decisions were approved at the Board meeting, which commenced at 12:00 noon and concluded at 12:50 p.m. on August 2.
Historical Stock Returns for Zenith Fibres
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.68% | +2.76% | +0.63% | -7.28% | -12.24% | +122.13% |
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