NACL Industries (524709) Q4 23/24 earnings summary

Executive summary

• Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2024, were approved, with both showing net losses year-over-year.

• Statutory auditors issued a qualified opinion due to concerns over trade receivables, prompting an independent investigation.

Financial highlights

• Consolidated revenue for FY24 was ₹1,78,729 lakhs, down from ₹2,12,550 lakhs in FY23.

• Consolidated net loss for FY24 was ₹5,889 lakhs, compared to a net profit of ₹9,487 lakhs in FY23.

• Standalone net loss for FY24 was ₹4,696 lakhs, versus a net profit of ₹10,279 lakhs in FY23.

• Earnings per share (consolidated) for FY24 was ₹(2.96), down from ₹4.78 in FY23.

• Total consolidated assets as of March 31, 2024, stood at ₹1,81,827 lakhs.

Outlook and guidance

• Business is seasonal and performance is impacted by weather conditions.

• Management is initiating an independent investigation into trade receivables, with future adjustments possible.