Jyoti Resins and Adhesives Q1 Results Revenue Up 2.89% QoQ and 13.07% YoY

Jyoti Resins and Adhesives Q1 Results: Jyoti Resins & Adhesives reported its financial results for the first quarter of June 2024, showing notable changes compared to previous periods. The company's total revenue increased to ₹69.18 crores, which is a 13.07% rise from June 2023 and slightly higher than the revenue in March 2023. However, the company's selling, general, and administrative expenses saw a huge jump, rising by 308.29% from the same period last year. This significant increase in expenses indicates that the company spent much more on activities like marketing, management, and other administrative costs.

Jyoti Resins and Adhesives’s depreciation and amortization, which represent the loss of value of the company's assets, increased by 42.31% compared to the previous quarter. Interestingly, other operating expenses decreased by 56.84% from June 2023, suggesting that the company managed to cut costs in other areas. Despite the higher expenses, the company’s operating income, which is the profit made from its core business activities, grew by 12.53% compared to last year.

Jyoti Resins and Adhesives net income before taxes also increased by 18.85% from the previous year, showing overall profitability. After taxes, the net income reached ₹18.76 crores, up 19.16% from last year. Lastly, the company's earnings per share (EPS) increased by 32.01%, reflecting stronger performance and profitability per share.

Here’s a summary of the Q1 financial results for Jyoti Resins & Adhesives:

Jyoti Resins and Adhesives Q1 Results

The financial results of Jyoti Resins and Adhesives for the quarter ended June 30, 2024, show a solid performance. The company generated a total income of Rs. 7,114 lakhs during this quarter, which includes revenue from operations and other income. Although the revenue from operations slightly decreased compared to the previous quarter (Rs. 7,124 lakhs in March 2024), it was higher than the same quarter last year (Rs. 6,118 lakhs in June 2023).

Jyoti Resins and Adhesives’ expenses for the quarter were well-managed, totaling Rs. 4,613 lakhs, which is lower than the expenses in the previous quarter (Rs. 5,032 lakhs) and slightly higher than the expenses in the same quarter last year (Rs. 4,070 lakhs). This careful control over costs contributed to a strong profit before tax of Rs. 2,501 lakhs, similar to the Rs. 2,512 lakhs earned in the previous quarter and higher than the Rs. 2,104 lakhs from a year ago.

Jyoti Resins and Adhesives’ After accounting for tax expenses, which were Rs. 625 lakhs, the company’s profit for the period stood at Rs. 1,876 lakhs. This profit is consistent with the previous quarter and an improvement over last year’s Rs. 1,574 lakhs. The earnings per share (EPS) for this quarter were Rs. 16, reflecting steady growth in shareholder value. Overall, the financials indicate that Jyoti Resins and Adhesives is maintaining a stable and profitable business, with controlled expenses and consistent income.

Here's a summary of the unaudited financial results for Jyoti Resins and Adhesives for the quarter ended June 30, 2024, presented in very simple English:

Jyoti Resins and Adhesives Financial Metrics

The table provides financial details about Jyoti Resins and Adhesives. The company's market capitalization is ₹1,817 crore, which shows its total market value. The current stock price is ₹1,514. Over the past year, the stock reached a high of ₹1,780 and a low of ₹1,181. The price-to-earnings (P/E) ratio is 25.9, indicating how much investors are willing to pay for each rupee of earnings. The book value per share is ₹139, reflecting the company's net asset value. 

Here's the information in a table format:

Quarterly Results 

Jyoti Resins and Adhesives, the figures for December 2023, March 2024, and June 2024 show the company's financial performance. Sales were 62 crores in December 2023, rising to 71 crores in March 2024, and slightly dropping to 69 crores in June 2024. Expenses increased from 41 crores in December 2023 to 50 crores in March 2024, then decreased to 46 crores in June 2024.

Here's the data for Dec 2023, Mar 2024, and Jun 2024:

(Standalone Figures in Rs. Crores)

About Jyoti Resins and Adhesives

Jyoti Resins and Adhesives is a public company that was established on December 17, 1993. Located in Gandhinagar, Gujarat, this company is classified as a public company. Its authorized share capital is INR 54 crore, while its paid-up capital is INR 12 crore. Jyoti Resins and Adhesives is known for producing and selling synthetic wood adhesives, which are used in various woodworking applications.

For the financial year ending on March 31, 2022, Jyoti Resins and Adhesives reported operating revenues in the range of INR 100 crore to 500 crore. This was a significant increase from the previous year, reflecting strong business performance. The company's EBITDA, or earnings before interest, taxes, depreciation, and amortization, grew by an impressive 127.66% compared to the previous year. Additionally, the company's book net worth increased by 42.31%, indicating a strong financial position.

Jyoti Resins and Adhesives’ product line includes adhesives like Euro Xtra, Euro Wp, Euro Extreme, Euro PVC Glue, and Euro 2 in 1. As of now, Jyoti Resins and Adhesives is active and continues to operate successfully. The last annual general meeting (AGM) was held on September 22, 2023, and the company has six directors, including Jagdish Nathalal Patel and Sandeep Motilal Shah.