Rajkamal Synthetics Q1 Results with 63.18% QoQ Revenue Increase and a 358.62% YoY Revenue Increase

Rajkamal Synthetics Quarterly Growth Comparison

Rajkamal Synthetics Q1 Results: Rajkamal Synthetics' Q1 results for June 2024 show a significant improvement compared to both the previous quarter (March 2023) and the same period last year (June 2023). The company's total revenue increased substantially to ₹0.55 crore in June 2024, which is a 163.18% rise from ₹0.17 crore in March 2023. When compared to June 2023, where the revenue was only ₹0.12 crore, the year-over-year (YoY) growth is even more impressive at 358.62%.

Rajkamal Synthetics’ expenses also saw changes. The Selling, General, and Administrative (SG&A) expenses increased to ₹0.11 crore in June 2024, which is a major shift from a negative expense of ₹-0.07 crore in March 2023. This suggests that costs have risen, but the company might have managed them better than last year, as these expenses were just ₹0.01 crore in June 2023.

Rajkamal Synthetics’ operating income, which reflects the profit made from the company's core business, rose to ₹0.16 crore in June 2024, up by 70.87% from ₹0.09 crore in March 2023. This shows that the company is becoming more profitable. Net income, the profit after taxes, also increased to ₹0.16 crore, a 74.55% rise from March 2023 and a 118.68% increase from June 2023.

Here is a summary of Rajkamal Synthetics' Q1 financial results:

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Rajkamal Synthetics Q1 Results

Rajkamal Synthetics table presents the financial performance for the quarter and year ending June 30, 2024. It shows how much money the company earned and spent during these periods. For the quarter ending June 30, 2024, the company made ₹54.53 lakh from its operations. However, the expenses were higher, totaling ₹78.86 lakh, which led to a loss of ₹15.60 lakh before taxes. The company's main costs included materials, employee benefits, finance costs, depreciation, and administrative expenses.

When compared to the previous quarter ending March 31, 2024, the revenue was higher in the June quarter, but so were the expenses. This resulted in a bigger loss in June 2024 compared to a smaller loss in March 2024.

Rajkamal Synthetics’s tax expenses for the quarter were minimal, and after accounting for taxes, the company had a net loss of ₹15.33 lakh. The earnings per share (a measure of profitability for each share) were low at ₹0.24. Over the previous year, the company showed a profit, but this quarter's loss indicates financial challenges.

Here's the data you provided in a table format for the unaudited results of Rajkamal Synthetics for the quarter and half-year ended June 30, 2024:

Rajkamal Synthetics Stock Performance

Rajkamal Synthetics' financial table provides key details about the company's stock. The market capitalization is ₹26.5 crores, indicating the total value of all its shares. The current stock price is ₹40.8. The price has ranged between ₹44.0 and ₹22.3 over a period. The stock's price-to-earnings (P/E) ratio is 110, suggesting it might be expensive relative to its earnings. 

Here’s the information in a table format:

Quarterly Results 

Here is the table for the quarterly financial results for December 2023, March 2024, and June 2024:

About Rajkamal Synthetics

Rajkamal Synthetics has a notable history in the textile industry. The company was established as Shree Balaji Calendering House Private on May 2, 1981. It became a public

company on December 17, 1982. Initially, it began textile processing in January 1982 with rental machinery in Dombivli, Thane District, Maharashtra. By 1983, it had set up a cotton and synthetic textile processing unit in Dombivli.

On March 4, 1986, Rajkamal Synthetics changed its name to Rajkamal Synthetics. In 1986-87, it built a new modern processing plant in Sachin, Surat, which started operations in March 1990. This plant was financed through debentures and loans from ICICI Bank and UTI. However, in 1992, a cyclone caused significant damage to the plant and machinery, leading to a halt in production.

Due to financial difficulties, Rajkamal Synthetics entered into a one-time settlement (OTS) for its outstanding dues. The fixed assets were sold off to settle debts. Rajkamal Synthetics later converted shares to a dematerialized form in 2010 and increased its authorized equity share capital in 2009. In 2011, it issued new shares, improving its financial health and becoming debt-free.