Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Singer India Limited announces Q2, H1 FY20 results

Posted On: 2019-11-14 22:15:07

Standalone Financial Results - Quarter and Half Year ended 30th September, 2019

- In HY 19, Home Appliances revenue up by 28% with total revenue at Rs. 225.4 Crores

- Total revenue in HY 19 remained higher by 4.4 % compared to the Prior Year

Financial Highlights:

The continued growth in the home appliances category has resulted in this segment comprising 36% of revenue during the period versus 30% in the prior year. This growth occurred despite the backdrop of the tough economic environment that has impacted the consumer durabies industry countrywide.

The sewing category was more acutely impacted by this general economic slowdown as well as floods in certain parts of the country. In particular, the government aided sewing business was much reduced.

The Company has continued to focus on maintaining gross margins and simultaneously placing additional emphasis on cost reductions and working capital management. During the quarter ended 30 September 2019, the profits remained at the same level as last year due to these measures. With the continued growth in the home appliance revenue, this channel is expected to reach critical mass in the near future, thereby contributing to and enhancing overall profitability.

Commenting on the business, Rajeev Bajaj, Managing Director, Singer India Limited noted "We continue to see significant growth in our E-Commerce business which bodes well for our brand strength and future success in the crucial channel. Our immediate emphasis is on reviving the South India markets for sewing machines, which has been somewhat depressed ever since late 2016 and then the consecutive severe floods in some states in the subsequent years. We expect that the recent measures implemented by the Government will gradually reverse the slowdown in the economy and Singer will witness an accelerated rate of growth. We thank the Singer management and staff for their hard work".

Shares of SINGER INDIA LTD. was last trading in BSE at Rs.33.1 as compared to the previous close of Rs. 32.6. The total number of shares traded during the day was 16106 in over 93 trades.

The stock hit an intraday high of Rs. 33.5 and intraday low of 32.25. The net turnover during the day was Rs. 532058.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Shaily Engineering Plastics Limited clarifies on media reports regarding GST Search

Welspun Corp Ltd bags contracts for supply of 179 KMT pipes

Maharashtra Seamless secures Prestigious ONGC Orders

NBCC India Ltd receives order from Deparment of Revenue

GST search in Shaily Engineering Plastics Ltd's Rania Unit

Ecoplast Ltd to shut down Guwahati plant of subsidiary

KNR Constructions Ltd receives work order of Rs. 165.67 crores

Urja Global Ltd enters into JV for Electric Car

Banco Products India Ltd approves disinvestment

Bank of India board approves fund raising through issue of upto 125 crore shares

Ind-Ra affirms JK Paper's long-term issuer rating

Security and Intelligence Services India Ltd to acquire 51% in Adis Enterprises Pvt Ltd

ITC Ltd acquires stake in Delectable Technologies Pvt. Ltd.

Dynacons recognized as part of the Deloitte Technology Fast 50 India 2019

TCS' Advanced Drug Development Suite wins the India Pharma Award 2019

Zensar Partners with Education Africa to support students of Business Management

Fire at Oriental Aromatics Ltd's catalyst plant

Mitsu Chem Plast Ltd Board to consider Bonus Issue

Shri Jairam Sridharan, CFO of AXIS Bank resigns

Carnation Industries Ltd shuts plant for maintenance, repays dues to SBI, PNB

Issue of US$ 500 Million 3.50 Per Cent Notes By REC Limited

Vascon Engineers Ltd receives Rs. 132.69 crores work order from AAI

KEC International wins New Orders of Rs. 1,025 crore

RBI imposes penalty of Rs. 25 lakh on Andhra Bank

JSW Steel Ltd to seek clarifications on NCLAT order

G Bank, Myanmar Selects Infosys Finacle to Power its Growth

Thomas Cook India's Regional Maharashtra Tours witness a surge in demand of 27% from the State

Maruti Suzuki to proactively recall 63,493 Petrol Smart Hybrid variants of Ciaz, Ertiga and XL6 models

Dr. Reddy's Laboratories announces the launch of D.eferasirox Tablets for Oral Suspension, in the U.S. Market

Granules India Ltd clarifies on presence of NDMA in Metformin manufactured by the company

Bajaj Finance participates in QIP of RBL Bank Ltd

Cadila Healthcare Ltd receives EIR for API facility at Dabhasa, Gujarat

RBL Bank successfully closes QIP, raises Rs. 2,025 Crore

CARE revises ratings of Shakti Pumps India Ltd

Aite Group Names Majesco the Top 'Best-inClass' Vendor in the P&C Policy Administration Aite Matrix Report

Liberty Mutual Enhances Commercial Insurance Underwriting through Mastery of Big Data, adding more value to Brokers and Buyers

Shortlisted ideas from the European Tour Innovation Hub with Tata Communications show how latest digital technologies could revolutionise golf

Mercator Ltd board approves sale of PI in oil block

Pennar Industries bags orders worth INR 302 Crore

ICRA assigns credit ratings to NELCAST Ltd

Affle launches Vizury Engage360 to simplify omnichannel marketing

CARE A+ rating of Equitas Small Finance Bank Ltd reaffirmed

Reliance Power Ltd updates on rating action by Ind-RA

Moody's downgrades Yes Bank's ratings, assigns negative outlook

CARE reaffirms rating of NACL Industries Limited

Narayana Hrudayalaya announces discontinuation of Hospital Project in Kenya

Renascent Power acquires 75.01% stake in Prayagraj Power Generation Company Ltd

Sadbhav Tumkur Highway Private Ltd signs termination of concession agreement with NHAI

Nirlon Ltd, J.P. Morgan Sign Real Estate Transaction in Mumbai

Gati launches itself into the next phase of growth with All Cargo Logistics & Kintetsu World Express, Japan







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019