2025-05-02 08:54:54
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Stock Report
Singer India Limited announces Financial Results for period ended Dec 31, 2020
Posted On : 2021-02-13 11:07:20( TIMEZONE : IST )
- Home Appliances revenue increased by 11% in Q3 over the prior year and by 55 % over the immediately previous quarter
- The Company continues to operate with zero borrowings at the end of Q3, maintaining its surplus cash position
The Management is pleased to report that operations of the company have returned to a 'near normal' state pursuant to the Covid-19 pandemic and related lock down measures.
The home appliance business continued to show strong revenue growth and with the optimization of overhead costs the profit contribution from this segment increased significantly to Rs 3.8 crores in Q3 against Rs 1.6 crores in the prior year.
Revenue in the sewing segment contracted slightly during the quarter due to certain supply related issues. This has now normalized in Q4.
The Company continued to focus on improving the working capital cycle and rationalizing its product line up. The company maintained its cash position of Rs 32 crores and has no bank borrowings.
The Company posted a profit after tax of Rs 4.2 crores in Q3 2020 versus Rs. 4.1 crores in Q3 of the prior year.
Rajeev Bajaj, Managing Director, Singer India Limited commented; "The growth momentum in the post Covid recovery period has been satisfactory, despite various challenges including the steep increase in raw material prices and the supply related issues. The Zig Zag sewing machines supply has now resumed in January 2021 and the Company will aggressively target this market once again to make up for the shortfall in these sales in Q3 and Q2. Management is grateful to its employees and business associates for their tremendous support and assistance during this difficult time."
Shares of SINGER INDIA LTD. was last trading in BSE at Rs.40.75 as compared to the previous close of Rs. 41.4. The total number of shares traded during the day was 25385 in over 183 trades.
The stock hit an intraday high of Rs. 42.5 and intraday low of 40. The net turnover during the day was Rs. 1041794.
