Q1FY21 results: Suprajit Engineering records net loss of Rs14.51 crore

Suprajit Engineering Limited, manufacturer of high quality liner cables, announced its quarterly results on August 21, 2020. The company posted a consolidated net loss of Rs14.51 crore for Q1FY21, which declined by 158.4 per cent YoY, as compared to Q1FY20 when it reported consolidated net profit Rs 24.8 crore.                                                                                                                                                      

The consolidated net sales reported in Q1FY21 came in at Rs 177.47 crore, which declined by 51.16 per cent YoY from Rs 363.37 crore in Q1FY20. At EBITDA level, the company stood at negative Rs-4.83 crore in Q1FY21 that decreased by 109.42 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 51.28 crore.                                                                                                                                                               

EBITDA margin as of Q1FY21 was at -2.72 per cent that declined by 16.83 per cent YoY. The net profit margin in Q1FY21 came in at -8.18 per cent, which declined by 15.02 per cent YoY. The net profit margin in Q1FY20 was at 6.84 per cent.

The recoveries for the month of June have further strengthened in the months of July and August. Moreover, company’s domestic sales are coming to pre-COVID level, signalling positive Q2 outlook.

The share closed with gains of 1.94 per cent at Rs 181.15 in today’s session on BSE.